Almirall reports total revenues of 917 million euros in 2007

·Net Sales exceed 792 million euros and Other Income reaches 125 million euros

·Sales in Spain totalled 521 million euros and international net sales, which represent 34% of the total, amounted 271 million euros

·Normalised net income in 2007 was 135 million euros

·R&D expenditure rose to 122 million euros, 41% more than the previous year

Barcelona, 29 February 2008.- Almirall, the international pharmaceutical company located in Spain, has reported Net Sales of 792.5 million euros in the fiscal year 2007, an increase of 4.5% compared to the previous year. This increase is mainly due to positive behaviour in the affiliates and the sustained evolution of the top ten products. Other Income also rose to 125 million euros, by which the revenues totalled 917 million.

66% of the total of Almirall 2007 sales comes from the Spanish market, the company’s main reference. With an income of around 521 million euros, Almirall holds a leadership position among pharmaceutical companies operating in Spain and is the first Spanish pharmaceutical company in terms of sales with a market share of 5.6% (IMS TAM Dec.07).

Almirall features among the 70 highest turnover pharmaceutical companies in the world and in Europe as one of the top 35. The evolution of results at an international level has also been positive, with net sales of 271 million euros: 186 million from the company’s affiliates in Europe and Latin America and the remaining 85 million from licence agreements with other companies, and others. These results reflect Almirall’s international step-up with an increase of 13% compared to results obtained in the same period in 2006.

International sales now represent 34% of total sales, with best-performing countries being France, where the company achieved net sales of 68 million euros in 2007 (8.5% of the total), and Italy with 50 million euros (6.3% of the total).

Almirall’s EBITDA¹ totalled 170 million euros in 2007, indicating a growth of 18.3% compared to 2006.

Normalised net income² has risen by 14.6% compared to 2006.

Dr Jorge Gallardo, Chairman and Chief Executive Officer of Almirall, sums up: “2007 was a milestone year for Almirall. Our performance as a listed company affords us a place among the top performing stocks in European medium-sized pharmaceutical companies. Additionally, as a result of our acquisitions (Hermal and a portfolio from Shire) we have strengthened our position in Europe. Almirall will be proposing to the Annual General Meeting a dividend of 40% of 2007 net profit.

Regarding 2008, Dr Gallardo indicates: “Almirall will be centring efforts on consolidating its international expansion, mainly in Europe, and with special focus on the evolution of aclidinium bromide. We have no doubt that this medicine, which is dispensed using an innovative inhaler device developed in our inhaler development centre in Germany, will grant notable improvement for COPD patients.”

^{1 EBIDTA (earnings before interest, taxes, depreciations and amortization)}

^{2 Net income without extraordinary items}

Main financial results