Almirall records a 30% drop in profits due to the impact of Covid-19

The entry of generics from Aczone has also had a negative effect on the results of the Spanish pharmaceutical company.

Almirall facilities.

The Covid-19 pandemic and the entry of generics from Aczone have taken their toll on the Spanish pharmaceutical company Almirall, which has registered a fall of 29.9% of its profits in 2020, to 74.2 million euros.

Likewise, the Gallardo family company achieved net sales of 807.4 million euros, 5.4% less. Net sales, excluding the impact of Aczone generics in the United States, were flat compared to 2019.

The total income reached 814.5 million euros, which means a decrease 10.3% year-on-year, also affected by the expected significant drop in other income (-87.2%) due to the reduction of milestones from AstraZeneca.

“2020 has been a complex year due to the impact of Covid-19 and the entry of generics from Aczone, however, we have met the latest financial estimates,” said interim CEO Mike McClellan.

In addition, MacClellan has highlighted the recent appointment of the Italian Gianfranco Nazzi as the new CEO and executive of the board of directors, with effect from next May 1.

Regarding the forecasts For 2021, the pharmaceutical company expects a mid-single-digit growth in turnover and an EBITDA of between 190 million and 2021 million euros.