Almirall's 2020 slump confirmed amid Aczone competition
The challenges faced by Spanish dermatology specialist Almirall (ALM: MC) during 2020 were laid bare as the company presented its annual financial results on Monday.
Revenues were 10% lower than in 2019, at 814.5 million euros ($989.4 million), a drop blamed on generic competition to the acne drug Aczone (dapsone) and the impact of COVID-19.
"All of the ingredients to grow our core business in the coming years"Earnings before interest, taxes, depreciation and amortization (EBITDA) dropped nearly 22%, to 238.3 million euros, although this figure and the sales results were as Almirall had anticipated in its guidance.
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