After a difficult 2020 exercise, Almirall presents encouraging targets for 2021

  •   23/02/2021 - 09h05
  •   DEHOUI Lionel

The Spanish biopharmaceutical group Almirall has released its annual results for the financial year 2020. The company recorded a decline in business last year. This was partly due to the effects of the health crisis. However, it believes that the results are in line with its forecasts. In addition, the company presents encouraging objectives for the year 2021.

After a difficult 2020 exercise, Almirall presents encouraging targets for 2021
Image copyright: Shinya Suzuki - Flickr

Presentation of Almirall's annual results for the year 2020

Almirall's activity for the financial year 2020 was significantly down. Thus, the Barcelona-based laboratory recorded a net result estimated at 95.1 million euros, compared with 136.1 million euros in 2019. 136.1 million in 2019. Net sales were down by more than 5% to

807.4 million. However, the group believes that these results recorded for last year's activity are in line with its forecasts. In addition, several factors explain the company's less attractive performance in 2020. Indeed, the health crisis linked to the coronavirus pandemic has not spared the Spanish biopharmaceutical group's activities over the past year.

The company made this clear in its press release published at the time of the presentation of its annual results. In addition to being shaken by the consequences of the health crisis, Almirall also says it was struck by the effects of the appearance in the United States of a generic version of its acne medication Aczone.

Also, the Spanish group believes that the lower milestone payments received from its partner AstraZeneca have been a brake on the progress of its activities. As a reminder, AstraZeneca had taken over Amirall's services in respiratory diseases.

 

Almirall's outlook for 2021

After a difficult year in 2020, Almirall has posted its ambitions for the year 2021. Thus, the biopharmaceutical group expects to see an increase in its core net sales. It is also targeting growth in its operating profit (Ebitda). To achieve these objectives, the Spanish company is counting on the launch of new products.

In addition, it should be noted that the group is now specialised in dermatology. In addition, the company will be under the supervision of a new General Manager, Gianfranco Nazzi. The latter should take up his post from next May.

In addition, the encouraging objectives presented by Almirall have enabled it to progress on the Madrid Stock Exchange. Thus, at the midday session of Monday, February 22, 2021, the stock was up by about 2%.

 

Find out more about Almirall

Founded in 1943, Almirall is a pharmaceutical company based in Barcelona, Spain. Its goal is to provide valuable and high quality medicines from its beneficial research and development efforts. The company also relies on collaborations, licenses and external partnerships.

In addition, the group aims to bring to market innovative medicines for the treatment of respiratory and dermatological diseases. The drug solutions offered by the biopharmaceutical company are also intended for use in gastroenterology and pain relief.

In addition, Almirall reports a strong international presence. The group operates in more than 22 countries worldwide.