Link Securities | Laboratorios Almirall (ALM) presented its results for the 2025 financial year on Monday, along with a year-on-year comparison, from which we highlight the following aspects: ALM achieved total revenue of €1,114.5 million in 2025, representing a year-on-year improvement of 12.5%. Of this amount, €1,108.1 million corresponded to net sales, up 12.4% year-on-year, driven by the performance of Dermatology in Europe, led by Illumetri® and Ebglyss®. Gross margin,…

Alphavalua/ Divacons | The Spanish biopharmaceutical company received a €16.8 million injection in aid from CDTI Innovación, an agency under the Ministry of Science and Innovation, to boost its R&D projects. The company will allocate most of these funds (€12.5 million) to a phase II clinical trial of a monoclonal antibody designed to treat hidradenitis suppurativa, after successfully completing phase I studies in healthy volunteers during 2025. The rest of…

CdM | Almirall (ALM) has announced the extension of the indication for Physiorelax, which can now be used from the age of 12 (compared to 18 previously). With this, the company reinforces the availability of safe and effective solutions for muscle care. Physiorelax is a range of topical creams formulated with natural ingredients, developed for everyday muscle care. Its unique formula is based on Helenalin2, a complex that combines arnica,…

Banc Sabadell: According to press reports, Moody’s has upgraded Almirall’s (ALM) rating to Ba2 from Ba3, while maintaining a stable outlook. This change would respond to the expectation of strong revenue growth in the coming years supported by the launch of Ebglyss and other products in its current dermatology portfolio. Assessment: Positive news with limited impact