Profits from Almirall’s core business fell 23% in the second quarter after a difficult start to 2022 for its US operations, the pharmaceutical company said as it confirmed targets for the year.
EBITDA fell to €48 million, well below estimates of €61.5 million.
The company pointed out that earnings from core activities also fell in the first half, falling 21.2% year-on-year to €107.6m, as income contributions from the respiratory business stopped following its sale to AstraZeneca.
First-half sales rose 5.1%, although they fell 25.5% in the US, where it faces increased competition from generics.
The Spanish company maintained its EBITDA estimates at 190-210 million euros and expects sales to grow by a mid-single digit rate.
Source: Capital
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