Almirall: Sustained performance of key growth drivers and excellent progress on pipeline in H1 despite negative impact of COVID-19

News provided by

Almirall, S.A.

27 Jul, 2020, 06:00 GMT

BARCELONA, Spain, July 27, 2020 /PRNewswire/ --

  • Key growth drivers continue to show positive results. Ilumetri® performed strongly despite a decrease in new patient initiations during the COVID-19 pandemic, while Skilarence® results matched expectations, with flat sales excluding compounding impact in The Netherlands. Seysara® TRx decline is stabilizing following the impact of COVID-19, which disproportionally hit the acne market in the US, and new prescriptions began to recover in June.

Financial highlights (€ million)

YTD June 2020

YTD June 2019

Variation

Variation (CER1)

Total Revenues

433.0

469.0

(7.7%)

(8.3%)

  -   Net Sales

426.0

430.3

(1.0%)

(1.6%)

  -  Other Income

7.0

38.7

(81.9%)

(82.9%)

Gross Profit

296.7

308.9

(3.9%)

(4.4%)

  -  % of sales

69.6%

71.8%

EBITDA

137.2

166.2

(17.4%)

(17.9%)

Normalized Net Income

59.5

76.0

(21.7%)

(21.6%)

[1] CER (Constant Exchange Rates): Excluding the effects of exchange rate fluctuations

The global COVID-19 pandemic continues to evolve, forcing Almirall to face an unprecedented and challenging scenario. The company has managed to respond to this situation in a manner that has limited its impact on operating results, maintaining stability in an otherwise unstable period. Since the beginning of the crisis, Almirall has focused its efforts on offering a strong response to the needs of the sector.

Peter Guenter, CEO: "The reduction in the number of patient visits due to lockdown and the change in prescription habits have had a negative impact on our results for the first half of the year. This fact, together with Aczone® facing generic competition, has caused a decrease in our Net Sales. We have adapted our commercial models in response to this new reality, allowing HCPs to keep in contact with our teams through virtual means."

"Our pipeline remains strong, following the execution of exciting deals, such as those announced in January with Bioniz and 23andMe, and the expected global launch of Tirbanibulin in early 2021, as well as the initiation of Phase III trials for Seysara in China later this year. These assets, together with Lebrikizumab, have the potential to deliver an exciting new era of growth for Almirall. Supported by this positive long-term outlook, we continue to focus on developing a portfolio of differentiated products, building the value of our pipeline, and prioritizing strategic opportunities to address patients' unmet needs".

Further information from Almirall's Q2 results is available at: https://www.almirall.com/media/newsroom

Media Contact:
Amaya Belacortu
+34-670761353
amaya.belacortu@almirall.com

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