Almirall meets targets in first half of 2010

Almirall has expressed satisfaction with its financial performance in the first six months of 2010 after meeting its targets for the half.

The company has been able to position itself for growth in the second half of the year by reducing its business costs and improving cash flow, despite a challenging economic climate.

It has also been able to clear several regulatory milestones for the treatments Silodyx, Sativex, Toctino and Conbriza, all of which are now expected to launch later in 2010.

Jorge Gallardo, chairman and chief executive officer of Almirall, also highlighted the progress made in the firm’s developmental pipeline, with “significant phase III catalysts” due to be delivered in the second half.

He added: “We are in line with guidance and importantly we maintain a solid balance sheet position with improved cash flow generation that allows significant leverage capacity.”

Almirall received approval for Sativex in the UK in June 2010, with the GW Pharmaceuticals-developed drug set to be released in Britain by Bayer Schering Pharma.