SOURCE: Recordati S.p.A.

December 13, 2007 09:12 ET


MILAN, ITALY--(Marketwire - December 13, 2007) - Recordati announced the successful conclusion of its acquisition of Orphan Europe, a European pharmaceutical group specialized in rare diseases, announced on 28 September last, following clearance from the relevant competition authorities. The price paid is of EUR 135 million.

Orphan Europe, headquartered in Paris, is a leading European pharmaceutical company dedicated to the development, registration, marketing and distribution of unique drugs for the treatment of rare and orphan diseases. Orphan Europe employs about 120 personnel, and has subsidiaries in nine European countries and in the United Arab Emirates as well as representative offices in seven countries. Sales for the full year 2006 were EUR 40 million with EBIT of EUR 7.6 million. The company's net financial position is positive.

Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), dedicated to the research, development, manufacturing and marketing of pharmaceuticals, with headquarters in Milan, Italy, operations in the main European countries, and a total staff of over 2,200. A European field force of over 1,100 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas. Recordati's current and growing coverage of the European pharmaceutical market makes it a partner of choice for new product licenses from companies which do not have European marketing organizations. Recordati is committed to the research of new drug entities within the cardiovascular and urogenital therapeutic areas in which its research team has proven scientific competence and a track record of discovery and development of original drugs, the most recent of which, lercanidipine, a latest generation calcium channel blocker for the treatment of hypertension, is the company's leading product. Consolidated revenue for 2006 was EUR 576.2 million, operating income was EUR 120.3 million and net income was EUR 74.0 million.

For further information:

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Investor Relations

Marianne Tatschke



Media Relations

Claudio Rossetti (Echo Comunicazione d'Impresa)

(39)02 62694736


Statements contained in this release, other than historical facts, are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company's control. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements. All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company's activities and are not intended to indicate the advisability of administering any product in any particular instance.


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