SOURCE: Recordati

December 23, 2010 03:48 ET

Recordati In-Licenses Cardicor® in Italy From Merck KGaA

MILAN, ITALY--(Marketwire - December 23, 2010) -


Recordati announced that it has signed a license agreement with Merck KGaA, Darmstadt, Germany, for the marketing and sales in Italy of Cardicor® (bisoprolol). Cardicor® belongs to the beta-blocker class of drugs and is indicated for the treatment of chronic, stable, moderate to severe heart failure, associated with reduced systolic ventricular function, to be administered with ACE inhibitors and diuretics. The product is available on the market in Italy and generates annual sales of around EUR 9 million.

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 IN-LICENSES CARDICOR® IN ITALY FROM MERCK KGAA : http://hugin.info/143644/R/1475294/411376.pdf

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Source: RECORDATI via Thomson Reuters ONE

[HUG#1475294]

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