EU bank lends Almirall 120 million euros

26 June 2019

Almirall (ALM: MC) has picked up a handy loan worth 120 million euros ($136 million) from the European Investment Bank (EIB).

The Spanish drugmaker will use the funds on R&D activities in dermatology, with the research specifically focusing on new therapies for atopic dermatitis, psoriasis, actinic keratosis, and effective treatment for a congenital disease such as epidermolysis bullosa.

Almirall will benefit from the EIB's favorable interest rate and repayment terms, enabling it to implement its innovation strategy on schedule by 2022.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK