Sobi Reports 24% Revenue Growth in Q1 2026, Driven by Haematology Portfolio and Altuvoct Ramp-Up
Key Insights
Sobi's total revenue reached SEK 7,184 million in Q1 2026, representing a 24% increase at constant exchange rates compared to the same period last year.
Haematology revenue grew 24% at CER to SEK 5,186 million, with Altuvoct sales nearly tripling to SEK 1,240 million and Doptelet reaching SEK 1,433 million.
The strategic portfolio expanded by 55% at CER to SEK 4,524 million, while the adjusted EBITA margin improved to 38% from 36% in the prior-year quarter.
Swedish Orphan Biovitrum AB (search) (Sobi) posted robust first-quarter 2026 results, with total revenue climbing 24 percent at constant exchange rates (CER) to SEK 7,184 million, up from SEK 6,465 million in the same period a year ago. At actual rates, revenue grew 11 percent. The Stockholm-based rare disease biopharma attributed the performance to strong execution across both its haematology and immunology franchises, alongside accelerating momentum from its strategic portfolio.
Haematology Franchise Powers Top-Line Growth
Haematology revenue increased 24 percent at CER to SEK 5,186 million, compared with SEK 4,632 million in Q1 2025. The standout performer was Altuvoct, which generated SEK 1,240 million in sales — a sharp rise from SEK 455 million in the prior-year quarter. Doptelet also delivered solid growth, contributing SEK 1,433 million, up from SEK 1,129 million a year earlier. Together, these two products underscored the strength of Sobi's haematology pipeline and commercial capabilities.
Immunology Segment Maintains Momentum
The immunology portfolio recorded a 24 percent increase at CER, reaching SEK 1,643 million compared with SEK 1,526 million in Q1 2025. Gamifant led the segment with sales of SEK 734 million, up from SEK 582 million, while Kineret contributed SEK 779 million, a modest increase from SEK 735 million in the year-ago period. The consistent performance across both immunology assets highlights sustained demand in their respective rare disease indications.
Strategic Portfolio and Profitability
Revenue from Sobi's strategic portfolio — which encompasses key growth drivers — surged 55 percent at CER to SEK 4,524 million, compared with SEK 3,255 million in Q1 2025. The adjusted EBITA margin reached 38 percent, up from 36 percent in the prior-year period, excluding items affecting comparability (IAC) of SEK 139 million. Reported EBITA stood at SEK 2,612 million, corresponding to a margin of 36 percent, while EBIT was SEK 1,868 million.
Earnings per share before dilution rose to SEK 3.81 from SEK 2.55, and adjusted EPS before dilution reached SEK 4.11, compared with SEK 2.75 a year earlier. Cash flow from operating activities was SEK 1,126 million, down from SEK 2,295 million in Q1 2025.
Arthrosi Acquisition and 2026 Outlook
During the quarter, Sobi completed its acquisition of Arthrosi Therapeutics (search), Inc., a move expected to further strengthen the company's pipeline in rare diseases. Management left its full-year 2026 guidance unchanged, anticipating revenue growth at a low double-digit percentage at CER and an adjusted EBITA margin in the mid-30s percentage range.
Sobi plans to publish its second-quarter 2026 report on 16 July 2026, with a conference call scheduled for the same day.