Rothschild has worked on its second mandate from Almirall in less than a month after it advised the Spanish pharmaceutical company on its acquisition of a German rival.

The UK bank advised Almirall on its £255m (€378m) purchase of German pharma company Hermal weeks after its joint equity underwriting venture with ABN Amro acted as financial adviser for the Spanish company's €698m ($937m) Madrid stock market flotation.