Q1 2026 Swedish Orphan Biovitrum AB (publ) Earnings Call Transcript
Key Points
- Swedish Orphan Biovitrum AB (BIOVF) reported a strong start to Q1 2026 with a 24% revenue growth at constant exchange rates.
- The strategic portfolio grew by 55%, contributing 63% of the total business, driven by key launches such as Altuvoct, Gamifant, and Aspaveli.
- Altuvoct showed significant growth with a 186% increase, gaining market share and demonstrating strong momentum across major EU markets.
- Aspaveli's launch in nephrology indications C3G and IC-MPGN exceeded internal expectations, with positive market feedback and strong uptake.
- Doptelet sales reached SEK1.4 billion, up 44% at constant exchange rates, driven by strong growth in international markets, particularly in Asia.
- Operating expenses increased by 15% at constant exchange rates, reflecting higher activity levels and launch costs.
- The adjusted gross margin remained flat at 77%, impacted by lower Beyfortus royalties.
- There is uncertainty regarding the revenue guidance for Beyfortus, which remains difficult to forecast.
- The company faces increased costs related to prelaunch and launch activities for Aspaveli and NASP, as well as R&D expenses for Arthrosi development programs.
- Gamifant's growth, although strong at 47%, showed signs of potential plateauing in the U.S. market for secondary HLH.
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Thank you. Hello, everyone. This is Guido Oelkers, CEO of Sobi. We are delighted to welcome you to the first quarter 2026 conference call for investors and analysts. Our presentation was posted on sobi.com earlier today.
Please turn to the next slide. We would like to remind you of the usual provisions on statements about expectations and projections of future events. Unless stated otherwise, we are making comments that mostly relate to the first quarter at constant exchange rates in million Swedish krona.
Please turn to the next slide. Today, we plan to cover the key aspects of our Q1 report. I'm joined by Henrik Stenqvist, our CFO; and Lydia Abad-Franch, Head of R&D and Chief Medical Officer. We plan to review the presentation first and then have a Q&A until around 1:30 PM Central Eastern European Time.
(Operator Instructions) Please turn to the next slide.
We have delivered a very strong start in Q1 2026 operationally and financially with 24% revenue
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