Almirall (ALM: MC), Spain's largest drgumaker, has released solid first-half 2015 performance in line to achieve yearly guidance, with like for like growth of net sales up 4.0% and earnings before interest, taxes, depreciation and amortization (EBITDA) rising 35.5% driven by dermatology
Net revenue fell 5.9% to 407.9 million euros ($447.5 million), with net sales down 11% to 359.4 million, as a result of divestments. Last year it sold its respiratory franchise for $2.1 billion to AstraZeneca (The Pharma Letter November 3, 2014), providing the latter ownership of the development and commercialization of the business which included Eklira (aclidinium bromide), Duaklir Genuair (aclidinium/formoterol).
EBITDA was up a massive101% to 123.4 million euros, net income rocketed 207.9% to 58.8 million euros and normalized net income was 63.8 million euros, a rise of 234%.
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