Swedish Orphan Biovitrum Shares Fall After Forecast Cut on European Sales
Stock Chart for Swedish Orphan Biovitrum AB (SOBI)
Swedish Orphan Biovitrum AB fell the most in more than a year in Stockholm trading after cutting its full-year forecast.
Swedish Orphan said sales will increase by 1 percent to 4 percent compared with its earlier forecast of 8 to 10 percent, because of weaker sales than expected in Europe. Shares in the Stockholm-based drugmaker fell as much as 8.2 percent, the steepest decline since July 2009, and were down 1.90 kronor, or 4.6 percent, to 39.50 kronor at 9:14 a.m. local time.
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