Almirall, S.A. — Cyborg Score 7/10

Strong
Biopharmaceuticals - Medical Dermatology

Strategic Profile

In 2014 Almirall divested its respiratory franchise to Astrazeneca, focusing on dermatology, and has pursued strategic acquisitions to expand its dermatology portfolio. Almirall operates a global network with over 1,800 employees, 15 subsidiaries, and distribution in over 100 countries across 5 continents. The company is leveraging AI-driven innovation in drug discovery to strengthen its competitive position in the dermatology space.

Cyborg Score Rationale

Almirall demonstrates solid fundamentals as Europe's leading medical dermatology company with €900M+ revenue, consistent growth, and a disciplined strategy. The company is actively investing in innovation partnerships (AI drug discovery with Absci) and maintaining a robust pipeline of novel therapeutics, though execution risks remain in a competitive global pharma landscape.

Top Insights

  • The company is the leading European company in medical dermatology with an expanding biologics portfolio and a robust pipeline of novel therapeutics.
  • Almirall and Absci announced expansion of their AI Drug Discovery collaboration with a second dermatology target, combining Absci's Integrated Drug Creation platform with Almirall's dermatology expertise.
  • Almirall continued to deliver strong sales growth in the first quarter of 2025, in line with expectations and longer-term growth trajectory.
  • The company specializes in medical dermatology and develops innovative treatments for diseases including psoriasis, atopic dermatitis, actinic keratosis, and acne.

Named Competitors

  • Dupilumab — Leading biologic for atopic dermatitis
  • Skyrizi — Risankizumab for psoriasis
  • Opsumit — Pulmonary hypertension and dermatology treatments
  • Dermatological Portfolio — European dermatology specialist

Recent Developments

  • (August 2025) Expanded AI drug discovery collaboration with Absci, selecting second dermatology target
  • (May 2025) Q1 2025 results showed strong sales growth in line with longer-term trajectory
  • (Ongoing) Leadership transition with Carlos Gallardo Piqué assuming CEO role in 2022

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