Almirall's 1st-qtr net income falls 9.9%

Spanish drugmaker Almirall's first-quarter 2008 net income fell 9.9% year-on-year to 45.3 million euros ($70.2 million), despite an 11.6% sales rise to 238.4 million euros.

The Barcelona-headquartered firm noted that international sales increased by over 56% to 68.0 million euros, boosted by: the acquisition of German dermatology company Hermal and a portfolio of eight products, and the associated sales network from UK drugmaker Shire for $213.0 million (Marketletter October 15, 2007), which helped it to open new affiliates in Austria, Poland, the UK and Switzerland.

Commeting on the expansion, company chief executive Jorge Gallardo said that, "during the rest of 2008, we hope to consolidate Almirall's pan-European presence, particularly in key markets."