Almirall's unexpected first half loss leads shares to tumble

26 July 2021

Shares in Spanish dermatology specialist Almirall (BME: ALM) were down by nearly 12% as Monday afternoon’s trading neared its end.

The Barcelona-based company had just presented its financial results for the first half of 2021, revealing an unexpected net loss of 42.8 million euros ($50.41 million), mainly caused by a 100 million euros write-down from the value of the acne drug Seysara (sarecycline).

Core net sales saw an increase of 8% compared to the first half of 2020 by rising to 415.5 million euros, while core earnings before interest, taxes, depreciation and amortization (EBITDA) reached 125.6 million euros, a 40% jump.

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