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Almirall Knocked Back By US Woes, Could Affect Other Companies Too

 
• By John Davis

Spain’s Almirall has suffered business setbacks in the US - including in its patient assistance program - that have forced the mid-sized drug maker to issue a profit warning, triggering of a sharp slide in its share price.

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Almirall is navigating through difficult waters • Source: Shutterstock

The US is often seen, quite rightly, as a market opportunity for Europe’s pharmaceutical companies, but it can also be an unpredictable market where setbacks can rapidly follow each other in what might seem as an unremitting sequence. Barcelona, Spain-headquartered Almirall SA has just been afflicted by three such setbacks, leading to a lowering in its sales and earnings guidance for 2017.

Almirall’s US business, Aqua, has been adversely impacted by what seems to be the inappropriate use of its patient assistance programs by certain US pharmacies, the continuation of inventory destocking already seen in the 2017 first quarter, and the launch of a generic version of immediate-release tablets of Acticlate

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