SOURCE: Recordati S.p.A.

March 07, 2008 08:54 ET


MILAN, ITALY--(Marketwire - March 7, 2008) - Recordati announced the signature of an agreement for the acquisition of the French companies FIC and FIC Médical which are dedicated to the registration and the promotion of pharmaceutical products on behalf of third party companies in Russia and other Commonwealth of Independent States (C.I.S.) countries. FIC Médical, headquartered in Paris, is present in Russia, Ukraine, Belarus, Kazakhstan and Georgia, and is planning to enter Armenia and Azerbaijan. The company's business is carried out by around 200 people, of which 150 are medical representatives. The price of the acquisition is EUR 12 million, of which EUR 9 million were paid upon signing the agreement while EUR 3 million are due over a period of three years contingent upon certain conditions.

"In 2007 Recordati's sales in the C.I.S. countries through the services of FIC Médical are EUR 13.7 million, and increased significantly over the preceding year" declared Giovanni Recordati, Chairman and CEO. "Russia is today the seventh largest pharmaceutical market in Europe and has been growing at an average rate of over 25% in the past five years. FIC Médical's organization will be the base upon which Recordati will develop its own presence in Russia and in the C.I.S. markets. We expect significant sales growth in coming years due also to the enhancement of the product portfolio through the launch of Recordati's new original products."

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 2007 was EUR 628.4 million, operating income was EUR 131.5 million and net income was EUR 84.9 million.

For further information:

Recordati website:

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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