Recordati Achieves Growth In 1996 1st Qtr

An increase of 16.5% in net sales to 93.2 billion lire ($59.6 million) was achieved by Italian pharmaceutical company Recordati in the first quarter of 1996. R&D expenditure was said to have risen 14.5%.

The first-quarter figures, which were revealed at Recordati's annual general meeting, were said to be in line with the firm's expectations. Giovanni Recordati, chief operating officer, said: "we expect to achieve a significant sales increase and satisfactory operating results in 1996."

During the quarter, the firm received marketing authorization from the UK authorities for Zanidip (lercanidipine; Marketletter April 29), a once-daily channel blocker for the treatment of hypertension. Recordati will file its application for Zanidip approval in the other member states of the European Union, including Italy, via the mutual recognition route within the next few months.