SOURCE: Recordati

January 19, 2011 11:57 ET

RECORDATI ACQUIRES PROCTO-GLYVENOL® FOR THE CENTRAL AND EASTERN EUROPEAN MARKETS

MILANO (MI), ITALY--(Marketwire - January 19, 2011) -


Milan, January 19, 2011 - Recordati announces the acquisition of the marketing authorizations, the brand and the rights to the product Procto- Glyvenol(®) from Novartis Consumer Health for the following countries: Poland, Russia, Turkey, Romania, Czech Republic, Slovakia, Ukraine, Portugal, the Baltic countries and Cyprus. Procto-Glyvenol(®) is indicated for the localized treatment of internal and external hemorrhoids and is currently on the market in the countries included in the agreement.

"The acquisition of Procto-Glyvenol(®), a leading brand in its class, is in line with our will to strengthen our presence in the Central and Eastern European markets including Turkey" declared Giovanni Recordati, Chairman and CEO. "It is a growing product in a growing market, especially in Russia where this segment registers an average growth rate of 21%. We expect the overall product's sales in the countries for which we have acquired rights to be of around EUR 12 million in 2011."

Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271),with a total staff of over 2,800, dedicated to the research, development, manufacturing and marketing of pharmaceuticals. It has headquarters in Milan, Italy, operations in the main European countries, and a growing presence in the new markets of Central and Eastern Europe. A European field force of around 1,400 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized business dedicated to treatments for rare diseases. 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 and development of new drug entities within the cardiovascular and urogenital therapeutic areas and of treatments for rare diseases. Consolidated revenue for 2009 was EUR 747.5 million, operating income was EUR 162.2 million and net income was EUR 110.6 million.

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.

RECORDATI ACQUIRES PROCTO-GLYVENOL® FOR THE CENTRAL AND EASTERN EUROPEAN MARKETS: http://hugin.info/143644/R/1480836/416236.pdf

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Source: RECORDATI via Thomson Reuters ONE

[HUG#1480836]

Contact Information

  • For further information:

    Recordati website:
    www.recordati.com

    Investor Relations
    Marianne Tatschke
    (39)0248787393
    e-mail:inver@recordati.it

    Media Relations
    Claudio Rossetti (Echo Comunicazione d'Impresa)
    (39)02 62694736
    e-mail: Email Contact