Strong international sales driving growth at Italy's Recordati

Italian drugmaker Recordati says its consolidated net sales in the firsthalf of 2001 were up 36.4% to 413.7 billion lire ($188.4 million), boosted by the contribution from Bouchara, which was acquired last year (Marketletter May 1, 2000) and organic growth, which made up 11.1% of turnover. Operating profits, at 14.5% of sales, increased 64.8% to 60.0 billion lire, while net income rose 44.3%, excluding non-recurring gains, to 34.0 billion lire.

Pharmaceutical revenues climbed 50.3% to 326.3 billion lire and pharmaceutical chemical sales increased 1.5% to 87.5 billion lire. Recordati notes that its strong performance was principally due to international turnover, which leapt 141.7% and makes up over half of total sales, much of which comes from the firm's calcium antagonist Zanidip (lercanidipine).

Zanidip was launched in France, Argentina and Hong Kong in the first-half of the year, and Recordati says that marketing approval was obtained in Australia during the period, where a licensing agreement has been signed with Belgium's Solvay, which plans to launch the product before the end of 2001. The company also emphasizes the importance of a deal signed with Fournier of France, whose Canadian affiliate will market lercanidipine in that country (Marketletter July 2). As part of the agreement, Fournier is expected to submit a New Drug Submission for the drug in Canada by the end of the year.