Definitely not a household name for most American readers, Spain's Almirall SA (OTC:LBTSF)
(ALM.MC) is building an interesting specialty pharmaceutical business
for itself in Europe. Roughly 80% of the company's sales are in Europe
(half of that in Spain) and the company still depends upon in-licensed
products for close to half of its sales, but aclidinium and a newly
expanded dermatology business could lead to meaningful revenue growth
and margin leverage in the coming years.
Almirall certainly still
has challenges in front of it, including getting a combo version of
aclidinium through the FDA approval process and bulking up its drug
development efforts, but the forward valuation doesn't seem demanding
and mid-cap drug companies are being hunted to extinction in the M&A
market.
Follow this link for more:
Almirall Quietly Building A Better Business
No comments:
Post a Comment