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Almirall S A : net profit falls 39% in Q1 as it looks for M&A opportunities

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BARCELONA, May 10 (Reuters) - Spanish pharmaceuticals group
Almirall said on Monday its first-quarter net profit
fell 38.7% to 29.8 million euros ($36.2 million) and revenues
by 10%, as the company looks for merger and acquisition (M&A)
opportunities.
The Barcelona-based firm continued to be hurt by the
pandemic as mobility restrictions led to fewer patients going to
the doctor, while sales suffered from generic competition in the
United States.
It said on Monday it predicts COVID-19 will continue to
affect its operations in the first half, before its impact
lessens in the second half of the year.
With Gianfranco Nazzi recently sworn as chief executive ....

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UPDATE 1-Spain's Almirall on lookout for U.S. dermatology opportunities

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BARCELONA, May 7 (Reuters) - Spanish pharmaceuticals company Almirall is looking for new dermatology opportunities in the United States, Chairman Jorge Gallardo said on Friday.
At a press conference, he also said the company maintains its 2021 outlook for core sales growth in a mid-single-digit percentage and core earnings before interest, taxes, depreciation, and amortisation (EBITDA) to be 190 million to 210 million euros ($231 million-$255 million), up from 181 million euros in 2020.
The Barcelona-based company said in March, without disclosing the reason, it had decided not to exercise its right to acquire U.S. dermatological company Bioniz Therapeutics, for which it had made an initial payment of $15 million. ....

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