Spanish pharmaceutical company Almirall reported losses for the nine months, with its share falling by almost 8%, despite upgrading estimates for the full year.
Almirall showed a net loss of € 39.4 million in the nine months as a result of the impairment of an acne medicine.
In the corresponding period last year, the company had made a profit.
EBITDA in the nine months decreased by 4.4% compared to the corresponding period a year ago, to 181.2 million euros.
In the quarter, EBITDA stood at 44.6 million Euros, down 14.9% from the same period last year and lower than estimated at 45.7 million Euros.
The share is down 7.6%.
However, the company appeared optimistic about the end of the year, as it observes an exceptional momentum towards the fourth quarter, as stressed by the CEO Gianfranco Nazzi.
Source From: Capital