Sobi’s dealmaker CEO exits for BioNTech

Why it matters: BioNTech’s decision provides a powerful external endorsement of Oelkers’ record at Sobi. Oelkers did not create Sobi’s scientific foundations, but he built a much larger commercial and dealmaking organization around them, expanding the company in the U.S. and adding a succession of acquired and licensed rare disease products. BioNTech is now hiring him for a similar company-building challenge: scaling an innovation-driven biotech as it prepares to launch multiple products.

By the numbers: Oelkers joined Sobi in May 2017.

• In 2016, the company generated SEK 5.2 billion (€473 million) in revenue and employed about 760 people.
• By 2025, revenue had reached SEK 28.2 billion (€2.6 billion), while the workforce had grown to around 1,900 employees.
• Adjusted EBITA reached SEK 11.3 billion (€1.03 billion) in 2025, representing a 40% margin. Sobi’s full-year results showed revenue growth of 15% at constant exchange rates.

Backstory: Oelkers inherited an important growth engine. Sobi had launched the hemophilia drugs Elocta and Alprolix in 2016, and his predecessor, Geoffrey McDonough, described them as the “foundation for a period of significant growth for Sobi“. Oelkers used that foundation to pursue an acquisition-led expansion.

• In 2018, Sobi paid $1.5 billion for the U.S. rights to the RSV drug Synagis and an interest in its successor, then known as MEDI8897 and now sold as Beyfortus. Guido Oelkers said at the time that he saw the acquisition “as a stepping stone to drive sustainable growth in the U.S. and make Sobi more attractive for partnering”.
• The company followed with the acquisition of Dova Pharmaceuticals for up to $915 million in 2019, adding Doptelet, and the $1.7 billion purchase of CTI BioPharma in 2023, which brought in the myelofibrosis drug Vonjo. It also acquired or licensed products including Gamifant, Aspaveli and Zynlonta.

The big picture: Many of those bets now sit at the center of Sobi’s business. Doptelet generated SEK 5.3 billion (€479 million) in 2025, while Gamifant contributed SEK 2.7 billion (€247 million) and Beyfortus royalties added SEK 2.2 billion (€201 million). Overall, Sobi’s designated strategic portfolio produced SEK 16.7 billion (€1.52 billion), or nearly 60% of annual revenue. That portfolio accounted for 65% of revenue in the second quarter of 2026. Sobi reported 29% growth at constant exchange rates and raised its full-year outlook shortly before Oelkers disclosed his departure.

Reality check: The record is positive, but not flawless. The CTI acquisition has proved particularly expensive. Sobi recorded a SEK 6.6 billion (€602 million) impairment on Vonjo in 2025 because of competition, a restricted U.S. label and weaker-than-expected sales. Vonjo revenue fell 15% that year. Doptelet also failed a Phase 3 trial in chemotherapy-induced thrombocytopenia shortly after the Dova acquisition. Its subsequent commercial growth in approved indications, however, has made it Sobi’s largest acquired product.

• More broadly, Oelkers’ strategy has left Sobi dependent on finding, buying and successfully commercializing external assets. Net debt stood at SEK 16.1 billion (€1.47 billion) at the end of the second quarter after Sobi paid $950 million (€827 million) upfront for Arthrosi Therapeutics and its Phase 3 gout drug.

Between the lines: BioNTech’s description of Oelkers’ qualifications closely matches the role he played at Sobi. The German company highlighted his experience in scaling global organizations, allocating capital, building portfolios and expanding operations in the U.S. BioNTech needs those capabilities as it moves from relying heavily on its COVID-19 vaccine franchise toward commercializing a broader oncology pipeline.

What’s next: Oelkers’ successor at Sobi will inherit an unfinished plan to almost double revenue again, to around SEK 55 billion (€5 billion) by 2030. That target depends on six major launches, further business development and successful execution across an increasingly broad pipeline. It also comes as older products lose exclusivity. Shares fell about 4% following the announcement, suggesting investors closely associate Oelkers with the strategy and its execution.

The bottom line: Oelkers’ mark on Sobi is the conversion of a Europe-centered specialty company into a global buyer, licensor and commercializer of rare disease medicines. BioNTech is now betting that he can apply the same company-building skills on a much larger stage.

Editor’s note: this article was updated on Aug. 3, 2026 at 12:10 CEST to reflect BioNTech’s announcement following Oelkers’ departure from Sobi.