Recordati is a European pharmaceutical group mainly dedicated to the research, development, manufacturing and marketing of pharmaceuticals. Headquartered in Milan, it has operations in France, Germany, Greece, Ireland, Italy, Portugal, Russia and other C.I.S. countries, Spain, Turkey, the Czech Republic and Slovakia and the United Kingdom. Recordati has been listed on the Italian Stock Exchange since 1984.

Recordati offers a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized segment dedicated to treatments for rare diseases. A field force of over 1450 medical representatives promotes these products in all countries where subsidiaries have been established. The company's leading product is lercanidipine, a latest generation calcium channel blocker for the treatment of hypertension discovered and entirely developed by Recordati.

Other original drugs developed by Recordati are flavoxate (urinary incontinence) and fenticonazole (antifungal) and more recently a fixed combination of lercanidipine and enalapril. Recordati sells its proprietary pharmaceuticals directly to the market in the countries where it is present and through licensees elsewhere. Pharmaceutical production is based in Italy (Milan) and France (Montluçon). A plant for the production of proprietary active ingredients is situated in Cork (Ireland).

Pharmaceutical research is focused on the discovery of new chemical entities for the treatment of urogenital conditions while development activities are currently concentrated on the cardiovascular therapeutic area and in particular on the further development of lercanidipine.

Recordati also has a pharmaceutical chemicals business. Recordati produces active ingredients for both its own proprietary pharmaceuticals and for the generic drugs industry. Pharmaceutical chemicals are produced in Italy (Campoverde, Latina).

Key consolidated data

• Consolidated revenue for 2008 is € 689.6 million. Pharmaceutical sales are € 658.4 million.
• Operating income is € 144.7 million or 21.0% of revenue.
• Net income for 2008 is € 100.4 million.

Strategy

• Commitment to the research of new drug entities within the cardiovascular and urogenital therapeutic areas in which Recordati has proven scientific competence.
• Strengthening of the product pipeline through the acquisition of new product licenses.
• International development through acquisitions for the expansion of Recordati's geographical presence in Europe.