Almirall: share price surges after agreement with Novo Nordisk

(CercleFinance.com) - Almirall shares climbed over 4% on Monday morning on the Madrid Stock Exchange, following the signature of a licensing agreement with the Danish giant Novo Nordisk.


The agreement covers exclusive worldwide rights to the monoclonal antibody NN-8828, which Almirall intends to develop for the treatment of inflammatory and dermatological diseases.

The agreement - the terms of which were not disclosed - provides for an upfront payment to Novo, additional sums linked to the achievement of certain targets, and royalties on any future sales of the drug.

NN-8828 is expected to block the activation of interleukin-21 (IL-21) and inhibit the pathophysiological response of this cytokine in immune cells, a mechanism that Almirall considers promising in the treatment of inflammatory and autoimmune skin diseases.

This announcement overshadowed the disappointing 2023 annual results and lower-than-expected outlook published earlier in the morning by the Spanish laboratory.


Copyright (c) 2024 CercleFinance.com. All rights reserved.