EU bank lends Almirall 120 million euros
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.
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