- Pipeline advances in 2026 span a range of dermatology disease areas, including atopic dermatitis, hidradenitis suppurativa, and alopecia areata, with 3 ongoing PoC/Phase II clinical studies* and 3 additional studies to be initiated in 2026.
- Almirall’s sustained trajectory of growth and profitability enables the company to reach more patients and supports a growth outlook of double-digit net sales through 2030, combined biologics peak sales of approximately €800 MM (Ebglyss® and Ilumetri®), and a 25% EBITDA margin by 2028.
- Almirall’s leadership in medical dermatology, biologics growth, and continued strong performance of its broad product portfolio fuel advancement of a diversified and innovative R&D pipeline addressing skin diseases with high unmet need.
SAN FRANCISCO–(BUSINESS WIRE)–Almirall, S.A. (ALM), a global pharmaceutical company dedicated to medical dermatology, is participating in the 44th J.P. Morgan Healthcare Conference 2026, taking place from 12th to 14th January 2026 in San Francisco, to provide an update on its business strategy, pipeline advancement, and business outlook.
The company’s CEO and president, Carlos Gallardo, presents an update on the progress of the R&D pipeline in medical dermatology which is focused on developing impactful novel treatments for high unmet medical need skin diseases utilising a variety of different technology approaches.
Advancing a broad Medical Dermatology pipeline
Almirall’s continued investment in advancing its R&D capabilities and its medical dermatology pipeline are closely aligned with the company’s long-term perspective and commitment to positively impact patients and society, and further expansion of its leadership in medical dermatology. The company’s R&D pipeline strategy is based on Almirall’s strong capabilities, advancing the scientific understanding of skin diseases through collaborations with global leading experts and organisations. Almirall utilises a variety of modalities and novel technologies to address some of the most important unmet needs that often have a debilitating effect on patients.
Almirall’s clinical development program currently features 3 ongoing proof-of-concept (PoC)/Phase II studies including an anti-IL-1RAP monoclonal antibody (mAb) targeting hidradenitis suppurativa, an IL-2muFc mutant fusion protein targeting alopecia areata and targeting atopic dermatitis – the latter led by Almirall’s partner Simcere.
In 2026, Almirall plans to initiate 3 additional PoC clinical studies with an anti-IL-21 mAb targeting hidradenitis suppurativa and one additional inflammatory skin disease for the anti-IL-1RAP and the IL-2muFc mutant fusion protein, respectively. Furthermore, Almirall plans to advance a bispecific antibody targeting both IL-13 and OX-40L for the treatment of atopic dermatitis into Phase I in the first half of 2026.
In addition to the early-stage clinical pipeline, and as part of the ongoing lifecycle management activities, Almirall is also conducting – together with its partners – a variety of additional studies to enable further patient populations’ access to their biologics portfolio, specifically lebrikizumab and tildrakizumab. As part of this work Almirall is initiating a Phase III study with lebrikizumab in patients with nummular eczema. Nummular eczema is a debilitating condition that is distinct from atopic dermatitis but is thought to involve similar disease mechanisms and therefore makes targeting IL-13 by lebrikizumab a potentially promising therapy option. Several other ongoing clinical studies supporting Ebglyss® and Ilumetri® will further increase the body of evidence for these important biologics.
Sustained growth and business performance fuel long-term investment in pipeline
Almirall’s strong business performance and growth trajectory allow for sustained investment in its leading R&D capabilities following the previous investments into the commercial execution for the launch of breakthrough assets, as well as capabilities, expertise, and infrastructure. The company entered a new era for its business at the beginning of 2025 – and is advancing against its forecasted sustained double-digit growth of net sales (CAGR to 2030) and a substantial margin expansion. This new business era is driven by Almirall’s focus on medical dermatology, growth of its broad product portfolio, and commercial excellence across key markets.
Throughout 2025, Almirall has demonstrated that it is on track to deliver against the business goals and has confirmed its guidance for the year based on the successful strategy of combining the advancement of its growth drivers, particularly the biologics portfolio, with the continued growth of its broad portfolio of medical dermatology solutions, including Klisyri®, Wynzora®, and Seysara®. Almirall has shown the success of its recent biologics launches across key markets in Europe and is on track to deliver above €800 MM combined peak sales with expected peak sales for Ebglyss® of above €450 MM, and Ilumetri® of above €300 MM.
This growth trajectory enables Almirall to continue to invest sustainably into its leading R&D capabilities and pipeline dedicated to medical dermatology, especially immune-modulated skin diseases. Based on the sustained significant investment in its R&D pipeline, Almirall will further drive science leadership enabling the company to develop disruptive and innovative products that build sustained future growth as leader in medical dermatology.
Medical Dermatology: Significant unmet needs and growth potential
Significant unmet needs continue to persist in medical dermatology based on the severe patient impact of a wide range of dermatological diseases with many patients, especially with chronic diseases still being uncontrolled. Despite significant scientific progress, and the continuously increasing numbers of patients diagnosed with skin diseases, and the transition of more patients to advanced treatments, many patients still suffer from debilitating skin conditions. Therefore, Almirall has significant potential to deliver more and better treatments to many dermatology patients, and – based on its unique dedication to medical dermatology, commercial capabilities, close collaboration with the medical community, and its proven end-to-end capabilities across the entire value chain – has the opportunity for further business growth. This enables Almirall to give patients and the medical community access to innovative and relevant solutions and contribute to improving their lives.
“We are excited about the opportunities our broad R&D pipeline offers – to patients, the medical community, and for the future growth of Almirall. In addition to the three ongoing Proof-of-Concept studies we are planning to initiate another three this year which makes this a first in Almirall’s long history and is testament to our dedication to medical dermatology. Progressing a number of promising assets to address high impact skin diseases is made possible by the sustained previous investments we have made into commercial excellence for the launch of breakthrough assets, as well as our expertise, scientific capabilities, and infrastructure which are key factors for our leadership in medical dermatology,” stated Carlos Gallardo, CEO and President of Almirall.
Karl Ziegelbauer, Chief Scientific Officer, commented, “Our continued investment in our R&D expertise, infrastructure, and our collaborations has translated into the significant advancement of our pipeline we are seeing today. Our plans to have initiated six Proof-of-Concept studies before the end of 2026 is a demonstration of our ability to create meaningful innovation in medical dermatology, based on our track record of success across the entire R&D value chain.”
“Our sustained investment in R&D combined with Almirall’s robust financial situation are the foundation for our long-term perspective and our confidence in achieving our business ambition. Our commercial execution, the strength of our position in Europe, and our successful business model and execution enable us to continue to grow our business and further drive the future trajectory of Almirall in medical dermatology,” added Jon Uguzne Garay, Almirall’s Chief Financial Officer.
About Almirall
Almirall is a global pharmaceutical 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 2024: €990 MM, over 2000 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 waives 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.
*including the clinical development program for IL-2muFc in Atopic Dermatitis which is led by Almirall’s partner Simcere
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