2013-01-21 09:20:04 -
Milan, 21 January 2013 - Recordati announces the successful conclusion of the
acquisition of all rights concerning a portfolio of products indicated for the
treatment of rare and other diseases and marketed mainly in the United States of
America, from Lundbeck LLC. The value of the transaction is of $ 100 million, of
which $ 80 million were paid at the closing.
The acquired portfolio will be marketed in the U.S. by Recordati Rare Diseases,
a wholly-owned U.S. corporation. The main product in the portfolio is
Panhematin® (haemin for injection) for the amelioration of recurrent attacks of
acute intermittent porphyria. Other important drugs acquired are NeoProfen®
(ibuprofen
lysine injection) and Indocin® I.V. (indomethacin injection),
indicated to close a clinically significant patent ductus arteriosus (PDA) in
premature infants, and Cosmegen® (dactinomycin for injection) used mainly in the
treatment of three rare cancers. Expected revenues in 2013 for the acquired
portfolio are of around $ 40 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 3,200, dedicated to the research,
development, manufacturing and marketing of pharmaceuticals. Headquartered in
Milan, Italy, Recordati has operations in the main European countries, in
Central and Eastern Europe, and in Turkey. A field force of around 1,700
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 is a
partner of choice for new product licenses from companies which do not have a
European presence. 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 2011 was € 762.0
million, operating income was € 163.5 million and net income was € 116.4
million.
For further information:
Recordati website: www.recordati.com
Investor Relations
Media
Relations
Marianne Tatschke
Ketchum
(39)0248787393
Cristina
Risciotti,
(39)0262411919,
cristina.risciotti@ketchum.com
e-mail:
inver@recordati.it
Marzia
Ongaretti, (39)0262411915,
marzia.ongaretti@ketchum.com
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 finalizes its acquisition of a portfolio in USA:
hugin.info/143644/R/1671720/543453.pdf
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: RECORDATI via Thomson Reuters ONE
[HUG#1671720]
