Almirall profit down but COPD approvals will transform group

Days after getting European Commission approval for its chronic obstructive pulmonary disease drug Eklira Genuair, Almirall says that while earnings for the first six months sank, it has high hopes for the rest of 2012.

The Spanish drugmaker noted that adjusted net income fell 60.6% to 27.0 million euros, while turnover, hit by Spanish healthcare reforms and generics, was down 12.3% to 374.0 million euros.

Revenues were driven by the multiple sclerosis spray Sativex (delta-9-tetrahydrocannabinol and cannabidiol), licensed from GW Pharmaceuticals and Actikerall (fluorouracil/salicylic acid) for actinic keratosis. Also making a contribution were recently licensed-in treatments, such as Merck & Co’s type 2 diabetes drug Januvia (sitagliptin) sold by Almirall under the brand name Tesavel and the combo Janumet (sitagliptin plus metformin) as Efficib.

However, the company's future growth depends on Eklira (aclidinium) which has also just been approved in the USA where it will be marketed by partner Forest Laboratories Tudorza Pressair. Chief executive Eduardo Sanchiz said the firm is "pleased and proud on how aclidinium’s monotherapy regulatory process has worked on both sides of the Atlantic", adding that "we have established partnerships that can provide a competitive position for our product in 80% of the global COPD market while we are reinforcing our commercial and market access organisations".

Mr Sanchiz also noted that the Barcelona-based company expects to hear from regulators soon about linaclotide, licensed from Ironwood Pharmaceuticals, for chronic constipation and irritable bowel syndrome. He concluded by saying that "despite the difficulties in our home market…we are ready to enter a period that could drive a potential significant transformation to our business over the next few years”.