SWEDISH ORPHAN BIOVITRUM

DelveInsight's follicular lymphoma pipeline report highlights 50+ companies developing 55+ therapies, including key players like Chia Tai Tianqing Pharmaceutical Group, Incyte Corporation, and others. Promising therapies such as Parsaclisib, TQ-B3525, and Tafasitamab are in various clinical trial phases. Notable events include Incyte's acquisition of tafasitamab rights and Janssen's collaboration with CBMG for CAR-T therapies.

Handok's Empaveli (pegcetacoplan), a C3-targeted therapy for paroxysmal nocturnal hemoglobinuria (PNH), will be covered by Korean health insurance starting Friday. Empaveli, developed by Sobi and Apellis Pharmaceuticals, addresses both intravascular and extravascular hemolysis and has been approved in the U.S., Europe, Australia, and Japan. In Korea, it received approval in April and is designated as a Global Innovative product on Fast Track (GIFT). Empaveli demonstrated superiority over C5 inhibitors in clinical trials, improving hemoglobin levels and reducing transfusion needs, and can be prescribed without prior review.

A pilot study on anakinra, an IL-1 antagonist, for endometriosis-related pain shows potential benefits in reducing pain scores and inflammatory markers, with no significant impact on menstrual cycles, suggesting it could be a non-hormonal, fertility-preserving treatment option for endometriosis.

Since 2016, Sobi has expanded from a European specialty pharmaceutical firm to include US markets and new therapeutic areas in immunology and hematology through successful drug launches and acquisitions, warranting a narrow moat rating.

Morningstar lowers Swedish Orphan Biovitrum's Uncertainty Rating to Medium from High due to diversified revenue via acquisitions in hematology and immunology. Hemophilia drug revenue concentration has declined from 60% in 2018 to 40% in 2023, expected to drop to mid-30s. New products like Altuviiio, SEL-212, and Vonjo will drive future growth. Fair value estimate remains SEK 343 with a narrow moat rating; shares appear undervalued.