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, Spain 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: cardiology, gastroenterology, central nervous system (CNS) and analgesia. A field force of over 1000 medical representatives promotes these products in France, Germany, Greece, Ireland, Italy, Portugal, Spain and the United Kingdom. The company's leading product is lercanidipine, a latest generation calcium channel blocker for the treatment of hypertension discovered and entirely developed by Recordati.

Lercanidipine has been approved in a total of 98 countries and is currently on the market in 84 of these. Other original drugs developed by Recordati are flavoxate (urinary incontinence) and fenticonazole (antifungal). Recordati sells its proprietary pharmaceuticals directly to the market in France, Germany, Greece, Ireland, Italy, Portugal, Spain and the United Kingdom and through licensees outside these countries. 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. Over 90% of third party production is for the export markets. Pharmaceutical chemicals are produced in Italy (Campoverde, Latina).

Key consolidated data

• Consolidated revenue for 2006 is € 576.2 million.
• Operating income is € 120.3 million or 20.9% of revenue.
• Net income for 2006 is € 74.0 million.
• Net financial position at 31 December 2006 is positive by € 22.4 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.