Almirall delivers solid H1 2026 results growing Net Sales by 7.5% and EBITDA by 23.7%, driven by its strong European Dermatology business -- reiterating guidance aligned with long-term growth trajectory
-- Net Sales increased by 7.5% YoY to EUR602.7 MM, while EBITDA grew by
23.7% to EUR150.7 MM, reflecting strong commercial and operational
execution.
-- The European Dermatology business continues to drive growth, increasing
18.1% YoY to EUR341.9 MM, supported by strong performance of its key
growth drivers and favourable underlying market growth.
-- Continued solid performance of the biologics portfolio, with
Ilumetri$(R)$ delivering 10.5% increase to EUR125.2 MM and Ebglyss(R)
growing 88.2% to EUR84.5 MM in Net Sales, supported by sustained growth
in recent launch markets.
-- The broader dermatology portfolio delivers positive performance,
including Wynzora(R) (19.3%, total of EUR20.4 MM) and Klisyri(R) (13.9%,
total of EUR15.6 MM).
-- Almirall advances its innovation strategy through progress across its
R&D pipeline, including four ongoing PoC/Phase II studies and two
additional PoC studies planned to be initiated by end of 2026, targeting
five dermatological diseases. The first readouts are expected towards the
end of 2026.
-- Almirall signs a strategic research collaboration and licensing
agreement with Certest Biotec to discover and develop novel treatments
for rare dermatologic diseases and recurrent cutaneous conditions.
-- Reiterated guidance for the full year 2026: 9-12% growth and EUR 270MM
to EUR 290MM EBITDA.
BARCELONA, Spain--(BUSINESS WIRE)--July 24, 2026--
Almirall, S.A. $(ALM)$, a global pharmaceutical company dedicated to medical dermatology, today announced its financial results for the first half of 2026. The company delivered solid H1 2026 results, with Net Sales growing 7.5% YoY to EUR602.7 MM and EBITDA increasing 23.7% YoY to EUR150.7 MM. The results are in line with Almirall's long-term growth trajectory, and the company reiterated its full-year 2026 guidance of 9-12% Net Sales growth and EBITDA of EUR270 MM to EUR290 MM.
Results were led by the continued growth of the European Dermatology business, which increased 18.1% YoY to EUR341.9 MM, supported by the strong performance of key growth drivers and favourable underlying market growth. This performance reinforces Almirall's position as a leading medical dermatology company in Europe and supports the company's confidence in its full-year outlook.
The biologics portfolio continued to deliver solid performance in the first half of the year. Ebglyss(R) (lebrikizumab, for the systemic treatment of moderate-to-severe atopic dermatitis) achieved Net Sales of EUR84.5 MM, growing 88.2% YoY, driven by sustained growth in recent launch markets. Ilumetri(R) (tildrakizumab, for the systemic treatment of moderate-to-severe plaque psoriasis) delivered Net Sales of EUR125.2 MM, representing 10.5% increase YoY, demonstrating its strong market position in the competitive psoriasis market segment.
The broader dermatology portfolio also delivered positive performance, showing Almirall's relevance as a leading partner in medical dermatology. Wynzora(R) (psoriasis) achieved EUR20.4 MM in Net Sales, representing 19.3% increase YoY, while Klisyri(R) (actinic keratosis) delivered EUR15.6 MM in Net Sales, growing 13.9% YoY.
Almirall advanced its innovation strategy progressing its R&D pipeline in medical dermatology during the first half year of 2026. The company's R&D pipeline now features four ongoing PoC/Phase II studies and two additional PoC studies planned to be initiated by the end of 2026, targeting five dermatological diseases, with the first readouts expected towards the end of the year.
Aligned with Almirall's innovation strategy, the company also announced a new strategic research collaboration and licensing agreement with Certest Biotec, a Spanish biotechnology company with program specific mRNA and LNP discovery expertise to jointly discover and clinically develop novel treatments for rare dermatologic diseases and recurrent cutaneous conditions.
"We continue to advance our leadership in medical dermatology and are on track to deliver our long-term growth trajectory with solid H1 2026 results that are led by the sustained performance of our European Dermatology business. The continued growth of Ebglyss(R) and Ilumetri(R), together with the positive contribution from our broader dermatology portfolio, demonstrates the strength of our focused strategy, commercial execution, and the close partnerships we have with the medical community. Our sustained investment in innovation, the advancement of our R&D pipeline, and our strategic collaborations position Almirall strongly to deliver against our full-year guidance and our long-term growth ambition as a leader in medical dermatology."
Carlos Gallardo, Almirall Chairman and CEO
H1 2026 H1 2025 Variation
---------------------- ------- ------- ---------
Total Revenue 605.6 563.4 7.5%
---------------------- ------- ------- ---------
Net Sales 602.7 560.5 7.5%
---------------------- ------- ------- ---------
Other Income 2.9 2.9 -
---------------------- ------- ------- ---------
Gross Profit 389.4 367.2 6.0%
---------------------- ------- ------- ---------
% of sales 64.6% 65.5%
---------------------- ------- ------- ---------
Total EBITDA 150.7 121.8 23.7%
---------------------- ------- ------- ---------
Total EBITDA % Sales 25% 21.7% 3.3%
---------------------- ------- ------- ---------
Net Income 39.6 26.5 49.4%
---------------------- ------- ------- ---------
Normalised Net Income 42.4 28.4 49.3%
---------------------- ------- ------- ---------
2026 Full Year Guidance
Full year guidance for 2026: Net Sales: 9% to12% growth.
EBITDA between EUR 270MM to EUR 290MM
R&D pipeline
Innovation is a core pillar of Almirall's long-term growth ambition and leadership in medical dermatology. Guided by its dedication to the scientific understanding of skin diseases and commitment to advancing science that matters, Almirall continues to invest significantly in R&D to bring scientific breakthroughs closer to patients and dermatologists. Approximately 11.5% of Net Sales were invested in R&D in the first half of 2026, and sustained investment in R&D by Almirall amounts to more than EUR1 billion over the last decade.
Almirall's clinical development programme currently includes four ongoing PoC/Phase II studies across hidradenitis suppurativa, alopecia areata and atopic dermatitis, comprising anti-IL-1RAP and anti-IL-21 monoclonal antibodies in hidradenitis suppurativa, and an IL-2-mutant fusion protein programme in alopecia areata and atopic dermatitis. Two additional PoC studies are planned, including exploring the IL-2-mutant fusion in SLE with cutaneous manifestations and the anti-IL-1RAP monoclonal antibody in another inflammatory skin condition. The first readouts are expected before the end of 2026.
During H1 2026, Almirall further advanced its pipeline through the initiation of a Phase I clinical trial of its anti-IL-13/OX40L bispecific antibody and started a collaboration with China-based biotech Huaota to develop a novel monoclonal antibody for medical dermatology, further strengthening its differentiated innovation portfolio.
In parallel, Almirall continues to expand the clinical and real-world evidence base supporting its key biologics, Ebglyss(R) (lebrikizumab) and Ilumetri(R) (tildrakizumab), through ongoing lifecycle management programmes and collaborative development activities with Lilly and Sun Pharma.
Partnership with the dermatology and science communities
Collaboration with dermatologists, patients, researchers and select scientific partners remains fundamental to Almirall's commitment to advancing medical dermatology. Through these partnerships -- like the announced agreement with Certest Biotec -- the company fosters scientific exchange, to deepen the understanding of skin diseases and help ensure innovation remains closely connected to the needs of patients and dermatologists.
During H1 2026, Almirall presented more than 15 abstracts at the 2026 American Academy of Dermatology (AAD) Annual Meeting and hosted the 17th edition of Skin Academy in Prague, bringing together leading dermatology experts from around the world for scientific exchange and collaboration. Almirall also inaugurated its new offices in China, to identify and develop new potential collaboration opportunities and access programs and technologies complementary to the company's in-house R&D expertise.
Almirall expanded its long-standing collaboration with the Barcelona Supercomputing Center (BSC), aiming to accelerate research and development in medical dermatology through advanced supercomputing, High-Performance Computing (HPC) and Artificial Intelligence (AI). As part of the extended partnership, Almirall joined BSC Connects, a strategic initiative that brings together scientific and industry expertise to accelerate innovation and support the development of future dermatology therapies.
Investor Calendar 2026
9M 2026 Financial Results -- 9th November 2026
About Almirall
Almirall is a global biopharmaceutical company dedicated to medical dermatology. We closely collaborate with leading scientists, healthcare professionals, and patients to deliver our purpose: to transform the patients' world by helping them realize their hopes and dreams for a healthy life. We are at the forefront of science to deliver ground-breaking, differentiated medical dermatology innovations that address patients' needs.
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