Report
Karen Andersen
EUR 100.00 For Business Accounts Only

Maintaining Our Sobi FVE as Hemophilia Competition Enters Market

We're maintaining our SEK 240 fair value estimate for Sobi following first-quarter results, reflecting a stand-alone fair value estimate of SEK 182 per share and a 50% probability of an acquisition (at 7 times 2019 sales). Sobi maintained its 2019 guidance following a solid first quarter, with strong hemophilia revenue (continued growth in Europe) and initial Gamifant revenue (partly helped by initial stocking) countering Orfadin's generic erosion. Management emphasized the dual focus on hemophi...
Underlying
Swedish Orphan Biovitrum AB

Swedish Orphan Biovitrum AB is a healthcare company focused on rare diseases. Co. develops, manufactures and commercializes treatments with a particular focus on four therapeutic areas: Inflammation, Genetics & Metabolism, Haemophilia and Neonatology. Co. also markets a portfolio of rare disease products for partner companies. Co.'s pipeline programmes include research and development focused on recombinant protein drugs in late preclinical and clinical phase for indications.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Karen Andersen

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