Almirall's net income falls 11% on costs, but beats analyst predictions

For full-year 2007, leading Spanish drugmaker Almirall reported earnings before interest, taxes, depreciation and amortization of 170.3 million euros ($259.2 million), up 18.3% on the previous year. While this was short of the 174.0 million forecast by analysts at Lehman Brothers, it was significantly ahead of the other estimates which ranged from 153.0 million euros to 163.0 million euros.

Net income for the period which, despite falling some 10.9% to 131.2 million euros on costs associated with its acquisition of Hermal and eight products from Shire (Marketletters passim), also beat Lehman Brothers' 128.0 million euro forecast and the predictions of other analysts, which were between 122.0 million euros and 130.0 million euros.

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