Almirall's 2020 net profit falls 30% due to coronavirus, generics

Spanish pharmaceutical firm Almirall's 2020 net profit fell 29.9%, to 74.3 million euros ($90.05 million), due to the impact of the coronavirus and the introduction of generic competition to one of its products, the company said on Monday.

The Barcelona-based group fulfilled its 2020 guidance, with net sales falling 5.4% to 807.4 million euros in the full year, while earnings before interest, taxes, depreciation and amortization (EBITDA) slipped 21.7% to 238.3 million euros from 2019.

($1 = 0.8251 euros)