Spain's Almirall expects core earnings to fall in 2023
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Loading... - Chico Gusmao
- 20 Feb 2023
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Spanish pharmaceutical company Almirall's Research Centre is pictured in Sant Feliu de Llobregat near Barcelona September 3, 2008. Almirall on Wednesday announced disappointing trial results for a key lung drug, raising concerns for the product's future and spurring a sell-off of its shares and those of partner Forest Laboratories Inc. REUTERS/Gustau Nacarino (SPAIN)
BARCELONA, Feb 20 (Reuters) - Spanish pharmaceutical firm Almirall (ALM.MC) forecast on Monday a drop in core earnings this year after a 15.8% decline in 2022 due to increased investment in research and development, as well as lower sales in the United States.
The company also said interim chief executive and chair of the board Carlos Gallardo, the grandson of the company's founder, would stay on as CEO on a permanent basis.
It reported earnings before interest, taxes, depreciation and amortisation (EBITDA) of 198.3 million euros ($212.2 million) for 2022, down from 235.6 million euros in 2021. That was within its target range of 190-210 million euros for 2022. Read More…
