BIOVF - Swedish Orphan Biovitrum AB (publ) (BIOVF) Q1 2024 Earnings Call Transcript
2024-04-25 16:12:02 ET
Swedish Orphan Biovitrum AB (publ) (BIOVF)
Q1 2024 Earnings Conference Call
April 25, 2024 10:00 AM ET
Company Participants
Guido Oelkers - Chief Executive Officer
Henrik Stenqvist - Chief Financial Officer
Lydia Abad-Franch - Head of R&D and Chief Medical Officer
Conference Call Participants
Viktor Sundberg - Nordea
Henrietta Boeg - Deutsche Bank
Alistair Campbell - RBC
Christopher Uhde - SEB
Harry Gillis - Berenberg
Mattias Haggblom - Handelsbanken
Yifeng Liu - HSBC
Presentation
Operator
Ladies and gentlemen, welcome to the Q1 Results 2024 Conference Call and Live Webcast. I am Alice, the Chorus Call operator. I would like to remind you that all participants will be in a listen-only mode. And the conference is being recorded. The presentation will be followed by a Q&A session. The conference must not be recorded for publication or broadcast.
At this time, it’s my pleasure to hand over to Guido Oelkers, CEO. Please go ahead, sir.
Guido Oelkers
Yeah. Thank you so much and welcome everybody. And with this having said, let’s go straight to the first slide. It’s really a pleasure to welcome you today to our Q1 report. And today and forward-looking statement as the usual. Today I’m joined by Henrik Stenqvist, our Chief Financial Officer and Lydia Abad-Franch, our Head of R&D and CMO. And during the Q&A session we will have also Armin Reininger, our Senior Scientific Advisor. Please go to the next slide.
I mean, you have seen the results this morning. I mean, results was excellent from our perspective as plus 20% versus previous year. I think this weighs even more when you consider that we had to make up for SEK 880 million roughly of sales that we lost with the Synagis. So we’re quite happy with the results in the US list. But due to this erosion of Synagis and it was not made up, obviously fully by the Beyfortus revenues, we had also a lower EBITA margin.
We will talk about this, but 37% still represents a 12% growth versus previous year. So when you think about our strategic portfolio, the strategic portfolio grew at 177%. This is our launch medicines and our new royalties that we received from Beyfortus and for Altuviiio. This is quite significant and this is making up for 140% of our growth despite the fact that we had a pretty good year – pretty good quarter with our hemophilia franchise as well.
So and when you see the slide and all these growth rates here, I mean it’s very substantial for Doptelet, Gamifant and it’s nice to see materiality with Aspaveli and Empaveli this quarter. We will talk about Vonjo a little bit, because I’m sure this is on everybody’s mind as well, where we had more of a stable comparison versus previous quarter and there’s more to say to this....
Swedish Orphan Biovitrum AB (publ) (BIOVF) Q1 2024 Earnings Call Transcript