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The uptick in the stock comes on the back of stronger-than-expected sales from its Haemophilia portfolio and robust performance from Gamifant, which more than made up for the underperformance of Vonjo due to stocking issues and Medicare Part D reform impact in the U.S., as well as lower Beyfortus royalty and Synagis sales.
Despite the challenges faced by some products, the company’s adjusted EBITA reached SEK 2.35 billion, boasting a 36.4% margin, which was 14% higher than consensus. Net income also exceeded expectations, coming in at SEK 875 million, 17% above consensus.
The company has maintained its full-year guidance, expecting high single-digit sales growth YoY and an adjusted EBITA margin in the mid-30% range.
Analysts at RBC commented on the results, stating, "We think this will be taken positively, particularly given that consensus expectations had dropped considerably in recent weeks on expectations of weaker RSV sales and profits."
The positive results were partly attributed to the fact that, excluding the RSV products and discontinued ReFacto manufacturing sales, group sales were up a notable 23% at constant exchange rates (CER).
Additionally, the seasonal shift in U.S. Beyfortus supply for Q1 vaccinations, which was largely shipped in the fourth quarter of the previous year, did not impact the company’s annual expectations for Beyfortus royalties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
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