Almirall: sales, profit up on strong operating performance

(CercleFinance.com) - Spanish drugmaker Almirall said that its sales and profit rose in the first quarter, thanks to new product launches and the strength of its psoriasis franchise.


Total revenues reached 232.2 million euros in the first three months of the year, up 13% on a constant exchange rate (CER) basis, while EBITDA jumped by almost 34% to 80.2 million euros.

After this "strong operating performance" in the past quarter, Almirall said that it is confident that it will meet its 2019 guidance given that the business is "progressing well."

On a CER basis, total revenues are expected to grow low double-digit in 2019, with EBITDA expected to reach between 290 million euros-300 million euros, it said.

The results did not seem to please investors much, however, with Almirall shares down 1% this morning in Madrid.

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