Please login to the form below

Not currently logged in

Almirall earnings hit by generics

Spanish pharmaceutical firm Almirall has said price erosion and generic competition is responsible for a fall in earnings in its first half financial report

Spanish pharmaceutical company Almirall has reported an 18 per cent decline in first half pre-tax earnings to €11.2m, citing price erosion and generic competition.

Its net sales fell by 9 per cent to €426.8m in the six month period to June 30. The company said that there was a stronger growth in European sales, which rose by 3.3 per cent, while sales in Africa, America and Asia increased by 3 per cent.

Eduardo Sanchiz, Almirall chief executive, said: "The first half of the year reflects a material improvement in P&L trends versus the first quarter and we maintain solid financial position and steady free cash flow generation that provides strategic flexibility."

The company said that cost discipline and savings were a continued priority for 2011, but put guidance for the rest of the year on hold.

28th July 2011


Featured jobs

Subscribe to our email news alerts


Add my company
Merrill Brink International

Merrill Brink International is a leading provider of life sciences, legal, financial, manufacturing and corporate language solutions for global companies....

Latest intelligence

How to get rep buy-in for multi-channel
How do you manage a team who may be resistant to change?...
Blog: Digital therapeutics: within our reach?
Digital therapeutics is a hot topic right now. By using digital technology to manage, treat or even prevent chronic conditions, digital therapeutics is promising to revolutionise healthcare. But is this...
figure 1
The valuable brand
Creating value beyond the pill is both possible and increasingly necessary...