Spain's Almirall expects to double revenue by 2030, CEO says

By Javi West Larrañaga

(Reuters) - Spanish pharmaceutical company Almirall expects to almost double its annual revenue by 2030, boosted by higher sales of its dermatological products in Europe, CEO Carlos Gallardo said on Wednesday.

He told Reuters that investments made over the past two years should imminently start to bear fruit, expecting its new eczema product Ebglyss to bring in 450 million euros ($472 million) a year by 2030, up from 33 million in 2024 when it was launched.

Dermatological products are forecast to account for 75-80% of Almirall's total sales in 2030, up from 56% last year, said Gallardo, the third-generation head of the family-run company.

Almirall swung to a 10.1 million euro annual profit from a year-earlier loss and forecast double-digit annual growth in net sales through the end of the decade, including by 10-13% this year from 2024's 990.6 million euros.

Asked whether that could translate into revenue of 1.8 billion euros, as some analysts have estimated, Gallardo said: "We'll be there or thereabouts".

Annual growth will primarily come from Europe, which last year accounted for almost 90% of company revenue, but Almirall also hopes to boost sales in the United States.

"The U.S. market is the largest and most relevant market in medical dermatology, so we have to find a way to be more relevant there," he said, expecting only a moderate impact on the business from a possible trade war between the U.S. and European Union.

($1 = 0.9532 euros)

(Reporting by Javi West Larrañaga, editing by Andrei Khalip, Kirsten Donovan)