Recordati S.p.A. - Ipsen grants to Recordati marketing and selling rights to sell Tenstaten® in France

Press Releases

Ipsen grants to Recordati marketing and selling rights to sell Tenstaten® in France

Paris (France) and Milan (Italy), October 25, 2005

Ipsen and Recordati have announced the signature of an agreement by which Ipsen grants to Recordati the exclusive marketing and selling rights in France of Tenstaten® (cicletanine), a diuretic indicated for the treatment of hypertension developed by Ipsen. The drug is currently marketed in France by Ipsen with sales of over € 12 million in 2004. The consideration paid is slightly more than one time annual sales. Ipsen will supply Tenstaten® to Bouchara Recordati (Recordati subsidiary in France), who will market it for an initial period of seven years. Ipsen will also provide to Bouchara Recordati various services during the hand-over period.

"This agreement is part of Ipsen's strategy to accelerate growth notably by improving the resilience of its primary care product portfolio. With this agreement, Ipsen's objective is to improve the growth profile of Tenstaten® beyond 2006", stated Jean-Luc Bélingard, Chairman and CEO of the Ipsen Group.

"With the Tenstaten® agreement Recordati expands its offering for the treatment of hypertension in France, the second pharmaceutical market in Europe, where our proprietary calcium channel blocker lercanidipine has reached a market share of around 17%." declared Giovanni Recordati, Chairman and CEO, "The agreement with Ipsen improves the standing of our French unit, Bouchara Recordati, in its home market, and is in line with our group strategy of strengthening our position in the main European markets and becoming a partner of choice in the international pharmaceutical community."

About Recordati
Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), dedicated to the research, development, manufacturing and marketing of pharmaceuticals and pharmaceutical chemicals, with headquarters in Milan, Italy and operations in France, Germany, Greece, Ireland, Italy, Spain, Switzerland, the United Kingdom and the United States.

About Ipsen
Ipsen is a European pharmaceutical group with over 20 products on the market and a total worldwide staff of nearly 4,000. The Company's development strategy is based on a combination of products in targeted therapeutic areas (oncology, endocrinology and neuromuscular disorders), which are growth drivers and primary care products which contribute significantly to its research financing. This strategy is also supported by an active policy of partnerships. The location of its four R&D centres (Paris, Boston, Barcelona, London) gives the Group a competitive edge in gaining access to leading university research teams and highly qualified personnel. In 2004, Research and Development expenditure reached 143.2 million euros, i.e. 18.7% of consolidated sales, which amounted to 767.8 million euros in the Group's pro forma accounts set up according to the IFRS. More than 650 people in R&D are dedicated to the discovery and development of innovative drugs for patient care.

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Shareholder information Recordati at a glance Key Financial Data Recordati Share Press Releases 2008 2007 2006 2005 2004 2003 2002 2001 2000 Company Presentations Annual and Interim Reports Calendar Analyst Coverage Contacts	Press Releases Ipsen grants to Recordati marketing and selling rights to sell Tenstaten® in France Paris (France) and Milan (Italy), October 25, 2005 Ipsen and Recordati have announced the signature of an agreement by which Ipsen grants to Recordati the exclusive marketing and selling rights in France of Tenstaten® (cicletanine), a diuretic indicated for the treatment of hypertension developed by Ipsen. The drug is currently marketed in France by Ipsen with sales of over € 12 million in 2004. The consideration paid is slightly more than one time annual sales. Ipsen will supply Tenstaten® to Bouchara Recordati (Recordati subsidiary in France), who will market it for an initial period of seven years. Ipsen will also provide to Bouchara Recordati various services during the hand-over period. "This agreement is part of Ipsen's strategy to accelerate growth notably by improving the resilience of its primary care product portfolio. With this agreement, Ipsen's objective is to improve the growth profile of Tenstaten® beyond 2006", stated Jean-Luc Bélingard, Chairman and CEO of the Ipsen Group. "With the Tenstaten® agreement Recordati expands its offering for the treatment of hypertension in France, the second pharmaceutical market in Europe, where our proprietary calcium channel blocker lercanidipine has reached a market share of around 17%." declared Giovanni Recordati, Chairman and CEO, "The agreement with Ipsen improves the standing of our French unit, Bouchara Recordati, in its home market, and is in line with our group strategy of strengthening our position in the main European markets and becoming a partner of choice in the international pharmaceutical community." About Recordati Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), dedicated to the research, development, manufacturing and marketing of pharmaceuticals and pharmaceutical chemicals, with headquarters in Milan, Italy and operations in France, Germany, Greece, Ireland, Italy, Spain, Switzerland, the United Kingdom and the United States. About Ipsen Ipsen is a European pharmaceutical group with over 20 products on the market and a total worldwide staff of nearly 4,000. The Company's development strategy is based on a combination of products in targeted therapeutic areas (oncology, endocrinology and neuromuscular disorders), which are growth drivers and primary care products which contribute significantly to its research financing. This strategy is also supported by an active policy of partnerships. The location of its four R&D centres (Paris, Boston, Barcelona, London) gives the Group a competitive edge in gaining access to leading university research teams and highly qualified personnel. In 2004, Research and Development expenditure reached 143.2 million euros, i.e. 18.7% of consolidated sales, which amounted to 767.8 million euros in the Group's pro forma accounts set up according to the IFRS. More than 650 people in R&D are dedicated to the discovery and development of innovative drugs for patient care.