Almirall: shares rise after 'resilient' nine-month results
(CercleFinance.com) - Spanish drugmaker Almirall has delivered a "resilient" performance for the first nine months of the year, considering the impact of Covid-19.
On Monday, the company reported a 9% drop in revenue to 683 million euros, with a 20% fall in Ebitda to 189.6 million euros.
Despite the pandemic's effects on its dermatology business, Almirall said its portfolio's key growth drivers, such as psoriasis drugs Ilumetri and Skilarence, improved their performance over the third quarter.
The US market also showed signs of getting back to normal over the third quarter, the group said.
Regarding full-year 2020, Almirall said it forecasts a low-to-mid single-digit decline in full-year sales and Ebitda between 230 million euros and 250 million euros.
The Madrid-listed shares rose by over 4% after this report.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
On Monday, the company reported a 9% drop in revenue to 683 million euros, with a 20% fall in Ebitda to 189.6 million euros.
Despite the pandemic's effects on its dermatology business, Almirall said its portfolio's key growth drivers, such as psoriasis drugs Ilumetri and Skilarence, improved their performance over the third quarter.
The US market also showed signs of getting back to normal over the third quarter, the group said.
Regarding full-year 2020, Almirall said it forecasts a low-to-mid single-digit decline in full-year sales and Ebitda between 230 million euros and 250 million euros.
The Madrid-listed shares rose by over 4% after this report.
Copyright (c) 2020 CercleFinance.com. All rights reserved.