Recordati predicting strong 2001

Having already posted strong sales and a huge leap in earnings for 2000(Marketletters January 19 and March 12), the chairman of Italy's Recordati has stated that 2001 has also started well. Giovanni Recordati said that the positive trend of last year has continued during the first quarter of 2001, with sales increasing 40% over the same period of last year.

Mr Recordati noted that the increase is principally due to the contribution to turnover made by the Bouchara group, which was acquired last year (Marketletter May 1, 2000). He added that outside Italy, Recordati's presence is being "further consolidated," with international sales now representing over 60% of total revenue, principally thanks to the performance of the calcium antagonist Zanidip (lercanidipine). For 2001, group sales are forecast to reach 825 billion lire ($382.1 million) and Recordati expects a rise in profitability.