RECORDATI ACQUIRES THE SWISS PHARMACEUTICAL COMPANY PRO FARMA
(Thomson Reuters ONE) -
Milan, 14 July 2016 - Recordati announces the acquisition of 100% of the share
capital of Pro Farma AG, a Swiss pharmaceutical company with headquarters in
Zug. The value of the transaction (enterprise value) is of CHF 16 million and
will be funded from existing liquidity. The signing and closing of the
transaction took place at the same time.
Pro Farma, with expected 2016 revenues of around CHF 10 million, markets
proprietary and in-licensed specialties in selected therapeutic areas which
include both prescription and OTC drugs. The main brands are Lacdigest
(tilactase), Tretinac (isotretinoin) and Urocit (potassium citrate).
Furthermore, the company offers distribution and promotion services to other
pharmaceutical companies.
"The acquisition of Pro Farma represents an excellent base on which to develop
our operations in Switzerland where Recordati has recently started to sell its
product Livazo (pitavastatin) directly to the market" declared Giovanni
Recordati, Chairman and CEO. "Furthermore, the main product Lacdigest will
contribute to the enhancement of our presence in gastroenterology."
Recordati, established in 1926, is an international pharmaceutical group, listed
on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT
0003828271), with a total staff of around 4,000, dedicated to the research,
development, manufacturing and marketing of pharmaceuticals. Headquartered in
Milan, Italy, Recordati has operations in the main European countries, in
Russia, in other Central and Eastern European countries, in Turkey, in North
Africa and in the United States of America. An efficient field force of 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 for its territories. Recordati is
committed to the research and development of new specialties within the
urogenital therapeutic area and of treatments for rare diseases. Consolidated
revenue for 2015 was ? 1,047.7 million, operating income was ? 278.5 million and
net income was ? 198.8 million.
For further information:
Recordati website: www.recordati.com
Investor Relations Media
Relations
Marianne Tatschke
Studio Noris Morano
(39)0248787393
(39)0276004736, (39)0276004745
e-mail: inver(at)recordati.it e-mail:
norismorano(at)studionorismorano.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.
Pro Farma acquisition:
http://hugin.info/143644/R/2028628/754182.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#2028628]
Unternehmensinformation / Kurzprofil:
Datum: 14.07.2016 - 12:09 Uhr
Sprache: Deutsch
News-ID 483395
Anzahl Zeichen: 4679
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Town:
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Kategorie:
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