Almirall Chief Executive Eduardo Sanchiz is leading a period of significant change at the company, following a shake-up of its drug portfolio, and building up the dermatology business further would fit with the Spanish group’s strategy. “We’re still in very initial stages but there are things that could interest us. We’re studying the situation but waiting for more information,” Sanchiz told Reuters.

Sanchiz said he was confident Almirall had the capacity to make another acquisition this year, whether of a single drug, a range of products or a whole company.

After selling its respiratory business to AstraZeneca two years ago, Almirall has shifted its main focus to dermatology. It acquired Poli Group in November for 365 million euros ($407 million) and Thermigen in January for $80 million. Both deals boosted its skin franchise, with Poli adding nail disorder products and Thermigen taking it into aesthetic dermatology. Industry analysts believe the Spanish group still has the financial firepower for further acquisitions. ($1 = 0.8977 euros)

 

(Writing by Ben Hirschler, editing by David Evans)

Source: Reuters Health

http://www.reuters.com/article/us-spain-almirall-valeant-idUSKCN0ZK1D9