Division of Almirall SA
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Almirall has fresh funds and wants to spend them on acquiring new dermatology assets, CEO Eduardo Sanchiz said following the surprise announcement that the Spanish firm is to sell its respiratory portfolio to AstraZeneca.
Spanish pharma group Almirall has agreed to acquire Aqua Pharmaceuticals, a privately owned prescription dermatology company based in the US. It will pay $305m up front, and up to $75m in additional payments contingent on certain regulatory and commercial milestones being met during 2014 and 2015. It will also pay $22.6m up front related to amortization of certain long-term tax assets.
Spain's top domestic pharma company Almirall saw sales shrink in the first quarter, but says that it will move into sustainable growth from the fourth quarter.
Almirall may pull MS drug Sativex off the German market after tortuous price negotiations with the German Health Insurance Funds have resulted in the price being slashed by more than 60%. A senior Almirall manager said the new price "no longer covers the financing of the product". Leaving the product on the market at the lower price could have implications elsewhere through reference pricing.
- Therapeutic Areas
- Western Europe
- Parent & Subsidiaries
- Almirall SA
- Senior Management
Klaus Treudler, Gen. Mgr.
James Robson, Dir., Fin.
- Contact Info
Phone: (49) 40 722 5021
Reinbeck bei Hamburg, B-2057
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