MADRID (Reuters) – Spanish drugmaker Almirall confirmed its full-year profit target despite falling net profit in the first quarter, saying the additional costs of launching drugs in the first three months will pay off more. go ahead.
The company said its net profit in the first quarter fell 32% to 20 million euros ($21.5 million), while its profit before interest, taxes, depreciation and amortization (EBITDA) fell 20% to €60 million.
The dermatology drugmaker attributed the drop in profitability to additional costs related to the launch of new drugs in the United States and Europe, although it expects these to boost its business in the coming quarters.
The Barcelona-based company also expects drugs in development to bring further growth soon.
“Almirall is firmly focused on realizing value from its pipeline, which will help improve our growth prospects going forward,” CEO Gianfranco Nazzi said in a statement.
The company reiterated that it expected EBITDA to end this year at between €190 million and €210 million, slightly less than the €211 million reported in 2021.
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(Reporting by Inti Landauro; editing by Edmund Blair; translation by Flora Gómez)
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