World News: 06:57 GMT Monday 11th February 2019. [RECORDATI via Globe Newswire via SPi World News]
“During 2018 an important transition in the majority ownership of Recordati took place. An agreement was reached with a consortium of investment funds controlled by CVC Partners, a highly respected investor group, for the indirect acquisition of 51,791% of the share capital of Recordati S.p.A.. This change in ownership ensures the continuity for management and employees and a commitment to keep building and developing the company going forward along the strategic lines that have been the drivers of the group’s success over many years. In addition, our new majority shareholders will contribute with their expertise and global healthcare network to expand both our rare disease and core business by accelerating our growth strategy” declared Andrea Recordati, CEO. “The financial results obtained during the year confirm the continued growth of the Group, with further improvement of its profitability”, continued Andrea Recordati. “During the year important initiatives were concluded. The definitive acquisition of the rights to Cystagon® from Mylan allows us to ensure the continued availability of this life-saving treatment to patients, the acquisition of Natural Point in Italy represents a good opportunity to enhance our presence in the market for food supplements and the acquisition of Tonipharm in France represents a further chance to increase our portfolio in the French self-medication market with well-known brands and good market shares. Furthermore, a worldwide license agreement was signed with Helsinn for the rights to Ledaga®, a drug for the topical treatment of mycosis fungoides, a rare cutaneous T-cell lymphoma, and orphan drug designation was granted to two of our experimental treatments. During the last quarter, Reagila®, a new drug for the treatment of schizophrenia, was launched in some European countries”.
The manager responsible for preparing the company’s financial reports, Fritz Squindo, declares, pursuant to paragraph 2 of Article 154- of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.
Recordati will be hosting a at 4:00 pm Italian time (3:00 pm London time, 10:00 am New York time). The dial-in numbers are:
Italy +39 02 8058811, toll free 800 213 858UK +44 1 212818003, toll free 800 0156384USA +1 718 7058794, toll free 855 2656959 France +33 170918703 Germany +49 69 255114451
Callers are invited to dial-in 10 minutes before conference time. If conference operator assistance is required during the connection, please digit * followed by 0 or call +39 02 8061371. A recording of the conference call will be placed on the website www.recordati.com.
A set of slides which will be referred to during the call will be available on our website www.recordati.com under Investors/Company Presentations.
For further information:
Recordati website: www.recordati.com
Globe Newswire: 06:57 GMT Monday 11th February 2019
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