(CercleFinance.com) – The Spanish pharmaceutical group Almirall recorded a sharp rise on Friday on the Madrid Stock Exchange following the announcement of the marketing authorization in Europe for its new treatment against atopic dermatitis (eczema) .
The stock is currently gaining 4.5% while the IBEX is gaining 0.6% and the European health sector index, the STOXX Europe 600 Health Care, is advancing 1.2%.
The Barcelona-based laboratory announced this morning that the European Commission had approved Ebglyss (lebrikizumab) for the treatment of adults and adolescents with moderate to severe forms of the disease.
After an initial launch in Germany, Almirall plans to market its monoclonal antibody in other European countries during the 2024 financial year.
In the United States and the rest of the world, Eli Lilly is responsible for distributing the product.
In a recent research note, analysts at Royal Bank of Canada said they expected annual sales of €159 million for Ebglyss (lebrikizumab).
By adding sales of Ilumetri, another Almirall treatment for psoriasis, the group’s dermatological franchise should represent total revenues of 327 million by 2030, or 60% of annual turnover, RBC predicts.
Copyright (c) 2023 CercleFinance.com. All rights reserved.