Exhibition Stands News
Recordati sees pharmaceutical revenue rise
13 Feb 2009
European pharmaceutical company Recordati said its revenue for the sector rose in 2008 by over ten per cent.
Following its recent acquisition of Czech business Herbacos-Bofarma, full-year results saw the figure increase to €658.4 million (£588.2 million) - an increase of 10.8 per cent.
International sales went up by 13.9 per cent to €483.8 million, with chairman and chief executive officer Giovanni Recordati describing the 12-month period as one including "important initiatives" for the group.
Last year also saw various product pipeline developments for the Milan, Italy-based firm.
It signed an exclusive agreement with Watson Pharmaceuticals for the sale and marketing of a bi-weekly oxybutynin transdermal patch - named Kentera - in 29 countries, as well as submitting a marketing authorisation approval request to the Eureopean Medicines Agency for a new compound called silodosin.
A business plan presented by Recordati at the end of last year said its recent investments and careful resource management would help to maintain healthy profit levels.
