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Recordati : Finalizes Its Acquisition of a Portfolio of Products in the USA


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© Marketwire 2013
2013-01-21 09:33:02 -

MILAN, ITALY -- (Marketwire) -- 01/21/13 -- 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 EUR
762.0
million, operating income was EUR 163.5 million and net income was
EUR 116.4
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 finalizes its acquisition of a portfolio in USA:
hugin.info/143644/R/1671720/543453.pdf : hugin.info/143644/R/1671720/543453.pdf




This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:



(i) the releases contained herein are protected by copyright and
other applicable laws; and



(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.



Source: RECORDATI via Thomson Reuters ONE



[HUG#1671720]




For further information:

Recordati website: www.recordati.com : www.recordati.com

Investor Relations
Marianne Tatschke
(39)0248787393
Email Contact : www2.marketwire.com/mw/emailprcntct?id=C15424462D963E90

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Email Contact : www2.marketwire.com/mw/emailprcntct?id=39CBF2C6A2C55948
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