Almirall will invest between 60 and 80 million euros in four assets for dermatological diseases.

BarcelonaThe Catalan pharmaceutical company Almirall, dedicated to dermatology, will invest between €60 and €80 million this year in four Phase II clinical trials—which consist of medical tests with patients with the disease being treated—to develop treatments for dermatological diseases. This investment should allow the company, which held its general shareholders' meeting today, to continue achieving sustained double-digit growth. It will present its first-quarter results next Monday.

"We will begin trials over the next 12 months. The proof of concept takes a year, depending on the clinical study design. We will have results in the next 18-24 months," explained Almirante's CEO, Carlos Gallardo, in a meeting with journalists after the meeting. Three of the products are biologics and are aimed at patients with hidradenitis suppurativa and other dermatological diseases, while the fourth is for epidermolysis bulbosa. "If the results are positive, they could have a very significant impact on the company," Gallardo said.

During Friday's meeting, the board of directors approved the distribution of a dividend from unrestricted reserves totaling €40.55 million. The pharmaceutical group is coming off a strong 2024, in which it celebrated its 80th anniversary and turned its results around: the Ibex-35-listed company reversed its losses and posted profits of €10.1 million, compared to a negative €38.5 million for the year. While it was already hitting the accelerator at the time—in 2023, it closed a €200 million capital increase to grow inorganically—the company hasn't lost momentum and continues to consider licensing new assets through licensing agreements and also acquiring other peers. However, Gallardo clarified that, if it goes through, it would be an operation that could be digested "easily," while making it clear that they have their sights set on the European market.

No impact of tariffs

Gallardo also addressed the potential impact the pharmaceutical company has suffered from the wave of US tariffs, which have also affected the pharmaceutical sector. "Our exposure is low, at 5% of sales, so the impact of potential tariffs is very low in our case," Gallardo explained. He also stated that they plan to grow in the US market to become a leader in the dermatology sector.