Almirall H1 2026 Results
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 €602.7 MM and EBITDA increasing 23.7% YoY to €150.7 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 €270 MM to €290 MM.
Results were led by the continued growth of the European Dermatology business, which increased 18.1% YoY to €341.9 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® (lebrikizumab, for the systemic treatment of moderate-to-severe atopic dermatitis) achieved Net Sales of €84.5 MM, growing 88.2% YoY, driven by sustained growth in recent launch markets. Ilumetri® (tildrakizumab, for the systemic treatment of moderate-to-severe plaque psoriasis) delivered Net Sales of €125.2 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® (psoriasis) achieved €20.4 MM in Net Sales, representing 19.3% increase YoY, while Klisyri® (actinic keratosis) delivered €15.6 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® and Ilumetri®, 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 € 270MM to € 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 €1 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® (lebrikizumab) and Ilumetri® (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.
Almirall, founded in 1944 and headquartered in Barcelona, is publicly traded on the Spanish Stock Exchange (ticker: ALM, total revenue in 2025: €1114.5 MM, over 2100 employees globally). Almirall products help to improve the lives of patients every day and are available in over 100 countries.
For more information, please visit https://www.almirall.com/
Legal notice:
This document includes only summary information and is not intended to be exhaustive. The facts, figures, and opinions contained in this document, in addition to the historical ones, are “forward-looking statements.” These statements are based on the information currently available and the best estimates and assumptions that the Company considers reasonable. These statements involve risks and uncertainties beyond the control of the Company. Therefore, actual results may differ materially from those declared by such forward-looking statements. The Company expressly disclaims any obligation to revise or update any forward-looking statements, goals, or estimates contained in this document to reflect any changes in the assumptions, events, or circumstances on which such forward-looking statements are based, unless required by the applicable law.
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Contact
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Phone: +34 93 291 35 08
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Phone: (+34) 93 291 30 87
