Leo Pharma Grows in Spain, Driven by Sales of its Psoriasis and Atopic Dermatitis Treatments

The Spanish subsidiary of the Danish company Leo Pharma generated revenues in Spain of almost €97 million in 2024 (€122.3 million in the Iberian market), 4% more than in 2023, although it did not manage to grow all of its therapeutic areas.

The dermatology area of Leo Pharma leads the revenue with €61.2 million, a figure that has not registered a clear increase compared to 2023. Thrombosis saw a slight reduction in revenue, while biodermatology boosted the positive data with growth of more than 20%, although it is the third largest in revenue.

Dermatology accounts for 67% of the subsidiary’s total revenue in Spain, driven by sales of calicpotrio and betamesone (Enstilar) for the treatment of psoriasis. Sales totaled €20.7 million, accounting for 22% of Leo Pharma’s total revenue. “The number one in revenue is Enstilar, the only SNS drug recognized by Farmaindustria as an incremental innovation,” Juan Fran Cuello de Oro, CEO of Leo Pharma Iberia, stated at a press conference this Monday.

Dermatology accounts for 67% of Leo Pharma’s total turnover in Spain

Another factor of Leo Pharma’s growth drivers in this division is calcipotriol/betamethasone (Protopic), the topical treatment for atopic dermatitis, which saw sales growth of 16.3%. “It’s been around for over 10 years and continues to outpace the market,” said Cuello de Oro.

The biodermatology division of Leo Pharma, while third in revenue (slightly behind thrombosis) with €17.7 million, is the area that experienced the greatest growth in the company, with more than 20%, according to the laboratory. Almost half of its revenue is due to the growth experienced by sales of its atopic dermatitis treatment tralokinumab (Adtralza), an anti-L-13 monoclonal antibody that generated revenue of €9 million last year, 33% more than the previous year.

For the laboratory’s general manager in Spain and Portugal, these figures demonstrate that tralokinumab “remains a key biologic thanks to its safety, efficacy, and tolerability profile .” This monoclonal antibody entered the Spanish market three years ago, and in other European Union states three years ago. “It has a long life ahead from a patent perspective ,” stated Cuello de Oro

The thrombosis division decreased slightly (1.8%), with total revenue of €18 million, despite a 3% increase in sales of its tinzaparin sodium (Innohep), a low-molecular-weight heparin. It has reduced its price because a 15% discount is now applied to this drug, a type of “mandatory discount ,” as the company describes it in accordance with Royal Decree-Law 9/2011 on measures to improve the quality and cohesion of the NHS.

The company Leo Pharma, which is present in 70 countries, invests more than two million euros of its turnover in Spain each year. Overall, it had a turnover of nearly 1.7 billion euros last year, of which 16% was reinvested in R&D. Adjusted EBITDA growth stood at 7%. “We want to continue growing in the future to reverse this growth in investment and innovation ,” said the executive, who also acknowledged that the company is “very attentive to the context so that it does not impact these [investment] decisions or the patients.”

Leo Pharma’s next objective in the Spanish market is the approval of delgocitinib for the topical treatment of chronic hand eczema. This drug has been approved by the European Commission since September 2024 and is already available in several countries. “We are in talks and dialogue with the Administration to bring it to market as soon as possible,” Cuello de Oro noted.

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(Featured image by Anita Austvika via Unsplash)

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