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    SOBI   SE0000872095

SWEDISH ORPHAN BIOVITRUM AB (PUBL)

(SOBI)
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EU evaluates Sobi arthritis drug to treat COVID-19 with pneumonia

07/19/2021 | 05:43am EDT

* EMA evaluates application to use Kineret as COVID-19 treatment

* Outcome of evaluation expected in October

* Kineret is latest drug reviewed by EMA as COVID treatment

July 19 (Reuters) - Europe's medicines regulator is evaluating an application to use an arthritis drug developed by Sweden's Sobi to treat COVID-19 in adults with pneumonia who are at risk of severe respiratory failure, the agency said on Monday.

The rheumatoid arthritis drug, Kineret, is the latest possible COVID-19 treatment to be reviewed by the European Medicines Agency (EMA) as the more infectious Delta variant of the coronavirus spurs an increase in cases.

Gilead's remdesivir is the only drug currently authorised for COVID-19 treatment in the European Union.

Kineret and its active substance anakinra reduce the activity of the immune system and a chemical messenger in the immune process that causes inflammation.

"It is thought that this could also help reduce the inflammation and tissue damage associated with COVID-19," the EMA said in a statement.

Kineret is the second rheumatoid arthritis drug to be reviewed by the EMA for COVID-19 use following U.S.-based Lilly's application for Olumiant as a treatment for hospitalised COVID-19 patients receiving oxygen.

A small retrospective study from Italy last year showed that treatment with anakinra appears to have improved respiratory symptoms and reduced signs of cytokine storm in nearly three-quarters of patients with COVID-19, acute respiratory distress and hyperinflammation.

COVID-19 patients with severe symptoms including pneumonia are believed to suffer from an overreaction of the immune system known as cytokine storm.

The regulator said on Monday it will assess data including results from two ongoing clinical studies investigating the safety and efficacy of Kineret in patients hospitalised with COVID-19. It expects the outcome of the evaluation in October.

Other treatments under rolling review in the EU include antibodies or antibody cocktails developed by Lilly, Celltrion and Regeneron, and one jointly developed by GlaxoSmithKline and Vir Biotechnology.

The regulator has backed the use of some of the therapies while the rolling review, aimed to speed up the process of approval by allowing researchers to submit findings in real time, is still ongoing. (Reporting by Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber, Uttaresh.V, Kirsten Donovan)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CELLTRION, INC. -2.02% 267000 End-of-day quote.-25.63%
GILEAD SCIENCES, INC. -0.29% 71.58 Delayed Quote.23.17%
GLAXOSMITHKLINE PLC -0.19% 1395 Delayed Quote.4.14%
REGENERON PHARMACEUTICALS 0.43% 655.0876 Delayed Quote.34.96%
SWEDISH ORPHAN BIOVITRUM AB (PUBL) -0.08% 241 Delayed Quote.45.21%
VIR BIOTECHNOLOGY, INC. 0.54% 52.805 Delayed Quote.95.33%
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Financials
Sales 2021 14 714 M 1 705 M 1 705 M
Net income 2021 2 047 M 237 M 237 M
Net Debt 2021 9 681 M 1 122 M 1 122 M
P/E ratio 2021 34,9x
Yield 2021 -
Capitalization 71 100 M 8 235 M 8 239 M
EV / Sales 2021 5,49x
EV / Sales 2022 4,88x
Nbr of Employees 1 537
Free-Float 58,4%
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Number of Analysts 8
Last Close Price 241,20 SEK
Average target price 219,63 SEK
Spread / Average Target -8,94%
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Guido Oelkers President & Chief Executive Officer
Henrik Stenqvist Chief Financial Officer
Sven Håkan Björklund Chairman
Anne Marie de Jonge Schuermans Head-Technical Operations
Ravi Madduri Rao Chief Medical Officer
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