Founded 80 years ago

In 1995, Editori Laterza published a collection of books on the subjects of health and health care, including a volume entitled "Da Speziali a Imprenditori. Storia dei Recordati" (From apothecaries to Entrepreneurs. The History of the Recordati Family), by Vittorio Sironi, an account of the lives of these pharmacists-turned-entrepreneurs; a dynasty that witnessed first hand a period of dramatic change in the history of health care - the birth of the pharmaceuticals industry as we know it today. (Photo of cover)

1926 - 1950

Giovanni Recordati founds the Recordati company in Correggio Emilia in 1926. The company emerges from a small family apothecary dating back to the start of the 19th Century. Giovanni Recordati oversees its transformation from a herbalist to a modern drug-based scientific undertaking: the "Laboratorio Farmacologico Reggiano". Recordati enjoys a period of exciting growth and development, as the country emerges-economically and morally- from the hardship of the war. In the post-war resurgence of the Italian pharmaceutical industry, the horizons for the Recordati company appear limitless.

From the early portfolio of products from the Laboratorio Farmacologico Reggiano, three are still on sale in Italy: Antispasmina Colica® (1927, anti-convulsive); Solvobil® (1930, laxative and colagenic), Tefamin® (1935, heart tonic, diuretic and blood pressure reducing agent). Other products emerging from this era include (to name but some) Dintoina®, Sindrenina®, Simpamina®, Insulina Recordati®. At the same time the Laboratorio commences manufacturing of the active ingredients contained in its specialities, in order to safeguard purity.

From the Thirties onwards, the company extends professional and academic dialogue with the medical profession beyond the limits of its own product range to a more general academic discussion of leading-edge medical issues. In this context, in 1933 the publication "Issues in Pharmacotherapy" goes into print, containing highly practical and informative features on clinical studies. This journal is followed, at the end of the Thirties by the "Folia Cardiologica", later to become, for many years, the reference publication of the Italian Society of Cardiology.

1951 - 1980

Immediately after completing his degree, and aged just 23, Arrigo Recordati (1927-1999) takes on the management of the company, following the serious illness and subsequent death, in 1952, of his father, Giovanni. In 1953, under Arrigo Recordati’s management, the corporate headquarters and pharmaceutical plant are transferred to Milan. During this same period the company’s research operations are restructured and strengthened with the creation of a new bio-pharmaceutical research laboratory.

The first Recordati proprietary research originated drug is Recordil® (1959, efloxate, coronary vasodilator), followed by Remeflin® (1962, dimefline, respiratory analeptic), then Genurin®/Urispas® (1973, flavoxate, a urinary anti-spasmodic and the first drug synthesised and developed in Italy to receive FDA approval in the USA, where it is still on sale, as it is in more than 60 other countries). Next comes Antoral® (1977, tibezonium iodide, an oral antiseptic).

In the Fifties, the company establishes its first overseas affiliates, in Latin America; these are later sold on to other family members.

In the Sixties the company develops the pharmaceutical chemicals business setting up the plant at Campoverde di Aprilia (Latina) and adopting the current name "Recordati Industria Chimica e Farmaceutica".

In 1961, an exclusive licence agreement is signed with Syntex Corporation (now part of Roche), at that time at the leading edge of research into the study and synthesis of steroidal hormones.

1981 - 1984

Arrigo Recordati’s belief that complete transparency and professionalism in financial reporting should be a requirement even of medium-sized family owned companies, is borne out by his insistence that, in 1981, Recordati voluntarily becomes one of the first medium-sized Italian companies to submit its annual report to independent audit – already widely practised abroad but at that time rare in Italy.

A further belief is that small companies - provided they are managed with vigour, determination, imagination and speed - are well equipped to take on the big groups which, despite their economic strength, can also be (especially if State owned) overly bureaucratic, risk averse, slow in reaching decisions, of indeterminate strategy and with a high turnover of senior management.

In 1984 – a key moment in Recordati’s history - the company obtains a listing on the Milan Stock Exchange. Whilst still controlled by the Recordati family, the company thereby completes its transformation from a typical, small, family operation to a modern, professional, publicly quoted company.

1985 - 1995

The development of the pharmaceutical business continues thanks to the launch of another product originated from Recordati’s research. "Lomexin®" (1986, fenticonazole), a dermatological anti-mycotic, is the first Italian drug to pass through all registration stages of the European Union’s Committee for Proprietary Medicinal Products (CPMP). In 1995, the subsidiary known today as Recordati España (Madrid) is incorporated for the marketing of both Recordati’s proprietary pharmaceutical products and of products under licence.

Alongside the pharmaceutical business, the group’s pharmaceutical chemicals operations steadily assume a more significant role. By the mid-Eighties, the plant at Campoverde di Aprilia is already a well-established industrial operation, whose productivity shows consistent year-on-year growth. As the quantities of product destined for the international market continue to increase, the relative importance of Recordati’s own fine chemical requirement declines. In 1987, Recordati Corporation is incorporated (Cranford, New Jersey, USA), for the marketing of fine chemicals in North America.

1996 - 1999

Arrigo Recordati, a firm believer in Research and Development as an essential driver of the Group’s continued growth, maintains a high commitment to R&D expenditure. The most recent product originated by Recordati’s Research is Zanidip® (lercanidipine, Zanedip® in Italy) a calcium channel blocker for hypertension, fully discovered and developed by Recordati.

In 1996, the Medicines Control Agency (MCA) grants marketing authorisation for Zanidip® in the UK. This is followed by the granting of marketing approvals in a number of EU countries, through the Mutual Recognition Procedure (Zanidip® being the first Italian pharmaceutical product to obtain mutual recognition approval) - and in non European countries. Zanidip® represents an outstanding growth opportunity for Recordati. Its Regulatory activities continue, aimed at obtaining registration in new countries, including the USA, Canada and Japan.

Recordati's research and development activities in the urological field progressed, with particular attention to the area of urinary incontinence.

In the pharmaceutical chemicals sector, in 1998 the acquisition of a plant for the production of active ingredients and intermediates for the pharmaceutical industry is finalized in Spain. This plant was subsequently sold in 2006.

At the beginning of 1999 Doctor Arrigo Recordati, Chairman of the Group since 1951, passed away after a short illness. His sudden death was a great loss for Recordati but did not change the company's commitment to proceed along the path of growth and development clearly defined by him.

In February 1999, the Recordati Board of Directors nominated Giovanni Recordati as Chairman and CEO.

2000 - 2004

Under Giovanni Recordati's management, an expansion policy based on research and internationalisation is pursued with determination.

A major step on this path is achieved through the establishment of Bouchara Recordati in France, the fourth largest pharmaceutical world market, after the acquisition of the French pharmaceutical company Doms Adrian (1999) and of the pharmaceutical group Bouchara (2000).

Activities in support of the worldwide development of Zanidip® are proceeding. As of the end of 2004 lercanidipine was marketed in 69 countries. License agreements in place, cover over 100 countries worldwide.

The 20mg strength of lercanidipine was approved in Europe and in other countries and was launched in 2003 in Germany, France and Australia. This new formulation provides therapeutic convenience to those patients who require a higher daily dose.

Recordati research activity is also envolved in the clinical development of a fixed combination between lercanidipine and the ACE-inhibitor enalapril, which addresses the need to treat a major proportion of patients with more than one antihypertensive agent to achieve adequate blood pressure control, as shown in recent scientific reports. At the end of 2004 Recordati files for approval the new drug with the BfArM, the German medicines agency.

Research and development activities in the urological and cardiovascular areas progressed.

The pharmaceutical pipeline is considerably strengthened through the launch of important drugs in the cardiovascular, gastroenterology, CNS, and respiratory therapeutic fields.

Conversion of all savings shares into ordinary shares and subsequent 2:1 stock split (2001)

2005

Acquisition of Merckle Recordati in Germany. With this acquisition Recordati gains access to the largest pharmaceutical market in Europe and the third largest worldwide.

Creation of Recordati Pharmaceuticals in the United Kingdom, fondamental step in Recordati's strategy to establish a direct presence in all the main European countries.

Establishment in Greece of Recordati Hellas Pharmaceuticals S.A, subsidiary headquartered in Athens . Our presence on Greek pharmaceutical market, will develop gradually through the marketing and sale of both Recordati's original products and those obtained under licence.

2006

Recordati enters the Portuguese pharmaceutical market directly through the acquisition of the Grupo Jaba companies thus increasing its coverage of the European pharmaceutical market.

A new original Recordati product is approved. Zanitek®/Zanipress®, a fixed combination of lercanidipine and enalapril was approved for sale by BfArM (the German medicines agency). This approval represents the beginning of the process which will result in the introduction of this new important product in all the European markets and beyond.

2007

The first launch of Zanipress®, Recordati’s new antihypertensive product which associates lercanidipine and enalapril in a fixed combination, took place in April in Germany.

Recordati enters the orphan drug market through the acquisition of Orphan Europe, a European pharmaceutical group based in Paris dedicated to the development, registration, marketing and distribution of unique drugs for the treatment of rare and orphan diseases.