Report
Juan Ros-Padilla ...
  • Luis de Toledo Heras

Almirall SA : Crossing the FY 2023 desert. Downgrading to Neutral

>Building a global dermatology franchise - After the respiratory franchise disposal in 2014, the company changed its focus to dermatology. Since then, it has increased the weight of its derma unit from 19% to 48% of total sales. The company is now focused on maximising its recent derma launches with a particular focus on the $ 32bn biologics segment (growing c.10% p.a.) while preparing the ground for the Lebrikizumab (atopic dermatitis) launch. Almirall has a strong E...
Underlying
Almirall SA

Almirall is engaged in the acquisition, manufacture, storage, sale and mediation in the sale of pharmaceutical specialties and products and all manner of raw materials used to prepare pharmaceutical specialties and products. Also, Co. acquires, manufactures, storages, sales and mediates in the sale of cosmetics, chemical, biotechnological and diagnostic products for human, veterinary, agrochemical and food-industry use, as well as all manner of utensils, complements and accessories for the chemical, pharmaceutical and clinical industries. In addition, Co. is engaged in the acquisition, sale, lease, subdivision and development of land lots, land and properties of all kinds.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Juan Ros-Padilla

Luis de Toledo Heras

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