Almirall: share price rises, EU green light for eczema treatment
November 17, 2023 at 08:16 am EST
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Spanish pharmaceutical group Almirall rose sharply on Friday's trading on the Madrid stock exchange, following the announcement that its new treatment for atopic dermatitis (eczema) had received marketing authorization in Europe.
The stock is currently up 4.5%, while the IBEX is up 0.6% and the European healthcare sector index, the STOXX Europe 600 Health Care, is up 1.2%.
The Barcelona-based laboratory announced this morning that the European Commission had approved Ebglyss (lebrikizumab) for the treatment of adults and adolescents suffering from moderate to severe forms of the disease.
After an initial launch in Germany, Almirall plans to market its monoclonal antibody in other European countries in fiscal 2024.
In the USA and the rest of the world, Eli Lilly is to take over distribution of the product.
In a recent research note, analysts at Royal Bank of Canada said they expected annual sales of 159 million euros for Ebglyss (lebrikizumab).
Adding sales of Ilumetri, another Almirall psoriasis treatment, the Group's dermatology franchise should represent total revenues of 327 million by 2030, or 60% of annual sales, RBC forecast.
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Almirall SA is a Spain-based company principally engaged in the pharmaceuticals manufacture. The Company focuses on development and marketing of drugs applied in various therapeutic areas, such as nervous system, gastrointestinal, dermatological, respiratory system, antiinfectives, as well as antineoplastic and immunomodulating agents. The Company's activities are divided into four business segments: Own network, which focuses on the commercialization of pharmaceuticals through own brand names; Licenses, which sells product rights to third parties; Research and development (R&D), which is responsible for the creation of drug candidates, as well as Dermatology, which includes sale of dermatological medicines in the United States. The Company operates through numerous subsidiaries in Europe, the Americas, Africa, Asia and Australia.
ALMIRALL, S.A. 
