Almirall's uncertainty on 2020 earnings hits share price

The Coronavirus hit markets on Monday morning, with the uncertainty around its impact doing damage to the share prices of many pharma and biotech companies.

But a company that had a particularly bad morning in the stock market was Almirall (ALM: MC), the Spanish dermatology specialist, which presented its full-year 2019 financial results and its outlook for 2020. The latter is likely to be responsible for the 3% reduction in the firm’s share price as trading entered its final third.

The annual revenue figure, of 908.4 million euros ($983 million) showed healthy growth of 12% compared to 2018, and earnings before interest, taxes, depreciation and amortization (EBITDA) jumped by 45% to 304.2 million euros.