Pharmaceutical company Almirall has reorganized in Europe to optimize its portfolio potential. Pharmaceutical markets in Europe, particularly in Spain, have been affected in recent years by economically driven decisions made by various countries’ health authorities that have negatively affected the growth of those markets and the introduction and uptake of new products.
Eduardo Sanchiz, CEO of Almirall, said, "We have been investing heavily over the last few years to maximize the potential of our portfolio of new products. However these efforts are happening at a time of unprecedented challenges in our industry and in key markets for our company. We have growth opportunities ahead of us and we will only manage to achieve them if we rebalance our resources and focus our efforts where we are in a better position to realize long term success."
In Spain, as a result of key decisions taken by health authorities, the pharmaceutical market has been contracting for four consecutive years and growth is not expected in the short term. Almirall's performance, despite the introduction of new products, has followed this trend.
The reorganization will affect its structure in Spain, where it could affect 250 positions. The measures implemented up to now to contain costs, realize synergies and improve competitiveness in Spain, while effective, have not been enough to reach the desired objectives.