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Recordati signs antihypertensive marketing agreement with Meda for Spain

Recordati signs a long-term agreement with Sweden-based Meda for the marketing and sale in Spain of its antihypertensive Zanipress

Italian pharmaceutical company Recordati has signed a long-term agreement with Sweden-based Meda, for the marketing and sale in Spain of its antihypertensive drug, Zanipress.

Meda already has marketing rights for Zanipress, which combines lercanidipine (a calcium antagonist) and enalapril (an ACE inhibitor), in Germany and in Scandinavia. Recordati announced in late April 2007 that it had received marketing approval for Zanipress from the German medicines agency (BfArM).

Germany will act as Reference Member State in the mutual recognition approval process for the rest of the EU, which is expected to complete during H2 2007.

In H1 FY06, sales of lercanidipine accounted for 30 per cent of the company's pharmaceutical revenues, according to CEO Giovanni Recordati.

In H1 FY07, consolidated revenue at Recordati was EUR 320.5m (USD 439.1m), an increase of 3.0 per cent on H1 FY07. Pharmaceutical sales were EUR 301.3m (USD 412.9m), up 4.1 per cent, and include those from the November 2006 acquisition of Portugal-based Jaba Farmaceutica.

Operating income, at 21.7 per cent of sales, was EUR 69.6m (USD 95.4m), an increase of 9.5 per cent on H1 FY06. Net income was EUR 44.9m (USD 61,5m), an increase of 20.1 per cent.

1st October 2008

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