Recordati signs an agreement with Osmotica Pharmaceutical Europe for the development of a new formulation of lercanidipine

Milan, 23 December 2005

Recordati S.p.A. announced today that it has signed an agreement with Osmotica Pharmaceutical Europe for the development of a modified-release formulation of lercanidipine (Zanidip®), Recordati's original calcium channel blocker for the treatment of hypertension.

Under this agreement Osmotica will apply its Osmodex™ technology to the development of a formulation of lercanidipine with new and improved release properties. This agreement is in line with the company's strategy to further develop lercanidipine, the group's flagship product.

"Osmotica's consolidated formulation technology will allow us to develop a new and improved formulation of Zanidip®" said Dr. Avi Sartani, Director and Vice President of Research and Development at Recordati, "and represents another important commitment together with the existing projects in our life cycle management program for this important drug."

Osmotica Pharmaceutical Europe is a private global product-focused specialty pharmaceutical company which develops manufactures and commercializes proprietary prescription products. Using its innovative, drug delivery platforms the Company has developed 8 products in 6 different therapeutics categories which are currently marketed in 14 countries. Osmotica Pharmaceutical Europe is a Joint Venture between Liconsa company that belongs to the Chemo group and Osmotica Corporation.