The Almirall pharmaceutical group plans to invest 400 million euros in three years in R&D, according to its president, Carlos Gallardo, after the general meeting of shareholders that the company held yesterday in Barcelona, ​​the first in which he participates as president. “Almirall is firmly committed to cutting-edge innovation: it is a very brave bet, but we believe that it is the right one for this company,†Gallardo said.
The executive explained to the shareholders that Almirall plans to focus its growth in Europe and in the area of ​​prescription dermatology, driven by two biological medicines: Ilumetri, against psoriasis, which it is already marketing, and Lebrikizumab, a drug for atopic dermatitis that is in its final phase of regulatory authorization, and they anticipate that it can be marketed next year. In addition, he explained, the company is investing in medicines under development by biotech companies. “Proof of concept in humans for these products is lacking, but success in just one of them would turn around the value of the company,†he said.
One of the shareholders’ interventions at the meeting, precisely, lamented the poor evolution of the share on the stock market, which closed yesterday at 8.88 euros, with a decrease of 26% compared to last year. “We believe that the entry into the market of the new products will have a transformative impact on the company,” said Gallardo.
The board approved last year’s accounts, when Almirall obtained a net profit of 4.3 million euros, compared to the losses of the previous year, with sales of 863 million, which grew by 4.4%. The pharmaceutical company expects to maintain modest growth this year, said its president, since the full impact of new drugs will only be visible in 2024.
The company will focus its growth on two biological medicines, but plans to maintain its current factories: medicines in Sant Andreu de la Barca (Barcelona) and in Germany, and active ingredients in Sant Celoni. “Maybe we even need to expand its capacity. For us they are strategic, â€he added.
Carlos Gallardo replaced his father, Jorge, as company president after last year’s meeting, and took over as CEO in November, replacing Giafranco Nazzi, initially on a temporary basis. At the meeting, however, he confirmed that he will retain the executive chairmanship. “It is an honor and a privilege to assume the leadership of the company after two generations that have run it with great success, and to do so at such a special time for the company.”