Almirall: posts double-digit growth in quarterly profit

(CercleFinance.com) - Spanish drugmaker Almirall has posted double-digit growth in operating profit for the first quarter of 2020, citing a "solid start to the year" for its psoriasis drug Ilumetri.


With net sales of 241 million euros, up 8%, the group's EBITDA rose by 10% to 88.3 million euros in the first three months of the year, it said in a statement.

"We are satisfied with this first quarter, which has met the objectives set before the crisis," said CEO Peter Guenter.

Almirall warned, however, that is "inevitable" that it will be adversely impacted in the second quarter by the effects of the Covid-19 crisis.

Even so, the Barcelona-based company maintains its guidance, assuming that there is a "progressive normalization" of the healthcare environment by the end of the second quarter.

Its shares were down 3.2% on the Madrid Stock Exchange after these results.

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