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Recordati Acquires Pro Farma AG

Pro Farma’s main product Lacdigest will contribute to Recrodati’s growing presence in gastroenterology

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Italian pharma company Recordati has acquired the Swiss pharma firm Pro Farma AG for approximately $16 million.

With headquarters in Zug, Pro Farma says it expects 2016 revenues to be around $10 million. The company markets proprietary and in-licensed specialties in selected therapeutic areas, which include both prescription and OTC drugs. The main brands are Lacdigest (tilactase), Tretinac (isotretinoin) and Urocit (potassium citrate). In addition, the company offers distribution and promotion services to other pharmaceutical companies.

“The acquisition of Pro Farma represents an excellent base on which to develop our operations in Switzerland where Recordati has recently started to sell its product Livazo (pitavastatin) directly to the market,” said Giovanni Recordati, chairman and chief executive officer, Recordati. “Furthermore, the main product Lacdigest will contribute to the enhancement of our presence in gastroenterology.”

Recordati, established in 1926, is an international pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), with a total staff of around 4,000, dedicated to the research, development, manufacturing and marketing of pharmaceuticals.

Headquartered in Milan, Italy, Recordati was established in 1926 and has operations in the main European countries, in Russia, in other Central and Eastern European countries, in Turkey, in North Africa and in the U.S. Revenue for 2015 was approximately $1.1 billion.

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