Almirall received a Net profit of 27.3 million euros in the first half of the year, compared to losses of 42.8 million euros in the same period in 2021, the company said on Monday.
The Vnet income ‘Core’ of the biopharmaceutical achieved without the contribution of AstraZeneca 436.6 million euros between January and June of this year, with an annual increase of 5.1%, thanks to the “good results” of dermatology in Europe, where revenues have increased by 22%.
“Core” EBITDA was 98.3 million euros, down 21.7% year-on-year, “in line with expectations,” while “core” gross margin was up 2.4% to 295.6 million euros increased and at 295.6 million euros was 67.7% of the turnover. The company has reiterated its guidance for 2022 given the “good development” of the business in the first half of the year.
“Total” Ebitda, i.e. including the contribution of AstraZeneca, reached €107.6 million so far this year, a decrease of 21.2% compared to the same period in 2021 year product divestitures and completion of AstraZeneca revenue accrual”, said in a statement.
That general and administrative expenses reached 210.1 million Euro, up 9%, driven by contribution to recent launches of Wynzora and Klisyri in the United States and Europe, deployment of Ilumetri in key countries, as reported European press.
That R&D expenditure, from 44.9 million euros, down 0.2% from the same period in 2021, although they reached 10.3% of core net sales. Almirall expects R&D investment to increase as a result of the Lebrikizumab phase IIIb trials, the Klisyri ‘large-field’ trials and increased spending on earlier phase assets such as anti-IL-1RAP.
The company adds that, together with partner Eli Lilly, it announced “positive” data from Phase III of 52 weeks of lebrikizumab in atopic dermatitis in the first half of the year. “These encouraging results reinforce Almirall’s confidence in the product’s potential as a first-line biologic and support potential less frequent dosing.”
The company also announced to the National Securities Market Commission (CNMV) that the board of directors approved the CNMV last Friday resignationvalid from September 1st by the non-directorial secretary José Juan Pintó. He will be succeeded by Daniel Ripley, whose appointment will take effect on September 1st.