Milan, October 16, 2012, Recordati announces the signature of the agreements covering the acquisition of all rights to five product lines on the Russian and CIS market: Alfavit, Qudesan, Vetoron, Focus and Carnitone. The value of the transaction, which will be funded from existing liquidity, is of RUB 2.7 billion. The closing of the operation, expected to take place before year-end, is subject to certain conditions.
The brands of the products acquired, which are OTC pharmaceuticals and dietary supplements, are very well known in Russia. Total annual sales of the five product lines are of around RUB 1.0 billion. Recordati will also enter into cooperation agreements with Akvion group to continue manufacturing the acquired products and for commercial development.
Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271). Recordati has operations in the main European countries, in Central and Eastern Europe, and in Turkey. A field force of around 1,700 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized business dedicated to treatments for rare diseases.
Recordati’s consolidated revenue for 2011 was € 762.0 million, operating income was € 163.5 million and net income was € 116.4 million.
BIC Securities acted as an exclusive financial advisor to Akvion and its shareholders.
Return to archive