Swedish Orphan Biovitrum AB raised its full-year 2025 forecast on Sunday, citing strong third-quarter sales, while also announcing a significant non-cash impairment charge related to its drug Vonjo.
The rare-disease specialist now expects revenue to grow by a low double-digit percentage at constant exchange rates, up from a previous forecast of high-single-digit growth.
Sobi also lifted its adjusted profit margin outlook to the mid-to-high 30s percentage of revenue, from a mid-30s forecast previously.
The company said it will record an impairment charge of 6.612 billion Swedish kronor in the third quarter for the product and marketing rights of Vonjo, which it acquired through the purchase of CTI BioPharma in 2023.
Despite the writedown, Vonjo is still projected to be a long-term growth driver, according to the company.
The upgraded outlook follows preliminary third-quarter revenue of 7.776 billion kronor, a 21% increase at constant currencies, driven by higher sales of its products Altuvoct, Doptelet and Gamifant.
Sobi attributed its improved profitability outlook to lower-than-expected research and development spending and accelerated effects from organizational changes implemented in the second quarter.
Reflecting the new developments, Sobi said it would release its full third-quarter report on Oct. 20, three days earlier than planned.
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