Foreign Sales Boost Recordati's Performance

Italy's Recordati SpA reported 1995 sales of 325.4 billion lire ($208.5 million), up 14.3% on the previous year, largely due to strong turnover in international markets, which represented 42.7% of the group's business, compared with 38.9% in 1994.

Total pharmaceutical sales increased 13.4% on 1994, with international pharmaceutical turnover rising by a huge 36.6%. Domestic pharmaceutical sales improved 8.8% in value and 15.6% in volume, while the overall domestic market saw growth of just 2.8% in value and 3.2% in volume. Pharmaceutical chemicals sales increased 15.9%, with exports making up 84% of that total.

Recordati's operating income rose 14.5% to 29.3 billion lire, due to cost containment, while R&D expenses increased 14.2%, and pretax income (excluding extraordinary items) jumped 38.8% to 27.3 billion lire. Net income was up 20% at 18.3 billion lire.