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BRIEF-Almirall reduces FY 2017 revenue, net sales and EBITDA growth estimates
July 10, 2017 / 5:22 AM / 5 months ago

BRIEF-Almirall reduces FY 2017 revenue, net sales and EBITDA growth estimates

July 10 (Reuters) - ALMIRALL SA:

* PROVIDES UPDATE TO FY 2017 GUIDANCE THAT REDUCES INITIAL ESTIMATIONS FOR TOTAL REVENUES, NET SALES AND EBITDA GROWTH

* SAYS FY 2017 GUIDANCE UPDATE TO TAKE ACCOUNT OF ADVERSE IMPACT OF RECENT MARKET DEVELOPMENTS IN US DERMATOLOGY

* SEES FY 2017 EBITDA OF 140-170 MILLION EUROS

* SEES LOW DOUBLE DIGIT DECLINE OF FY 2017 TOTAL REVENUE AND NET SALES VERSUS FY 2016

* SAYS INVENTORY DESTOCKING, INAPPROPRIATE ADJUDICATION OF PATIENT ASSISTANCE PROGRAM AND GENERIC ACTICLATE WILL ADVERSELY IMPACT THE EARNINGS IN 2017

* SAYS ITS BUSINESS IS PERFORMING IN LINE WITH EXPECTATIONS IN EUROPE AND REST OF THE WORLD Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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