Recordati S.p.A Acquires Six OTC Products in Germany
Published: Apr 24, 2012
MILAN, ITALY--(Marketwire - April 24, 2012) - Recordati announces the acquisition of the marketing authorizations, the trademarks and additional assets concerning six OTC pharmaceuticals for Germany from Cilag GmbH International and McNeil GmbH & Co. oHG. The products acquired are JHP-Rödler® (mint oil indicated for digestive disorder, headache, cough and cold), Betadorm® D (Diphenhydramine HCl indicated for sleep disorders), Rhinopront® (pseudoephedrine+triprolidine indicated for rhinitis and head colds), Collomack® Topical (salicylic acid solution, an anti- corn preparation), Tirgon® (bisacodyl for constipation) and Xitix® (vitamin C lozenges to treat vitamin C deficiency). Estimated 2012 sales for the six products are of around EUR 6 million.
"The acquisition by our German subsidiary of these six well known brands represents an interesting opportunity to strengthen Recordati Pharma's OTC product portfolio", declared Giovanni Recordati, Chairman and CEO of the Recordati Group. "The OTC pharmaceutical segment in Germany is worth around EUR 4 billion and represents a share in units of 52% of the overall pharmaceutical market. Together with the existing OTC portfolio, which includes well known brands such as Mirfulan®, Osteoplus®, Dolobene®, Flosa® and Silibene®, the German subsidiary is now able to better exploit the OTC market potential by building a dedicated sales organization".
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. 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 1,700 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'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 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 acquires six OTC products in Germany: http://hugin.info/143644/R/1605393/508401.pdf
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Source: RECORDATI via Thomson Reuters ONE [HUG#1605393]
For further information:
Recordati website: www.recordati.com
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MILANO (MI) 20148
Phone: 39 02 48787340