Recordati planning pharmachem sale

- Last updated on GMT

Related tags: Pharmaceutical drug

Italy's Recordati has said that it plans to sell off its
pharmaceutical chemical activities over the next few months in
order to concentrate on pharmaceuticals.

Italy's Recordati has said that it plans to sell off its pharmaceutical chemical activities over the next few months in order to concentrate on its finished pharmaceutical products.

The company made the announcement in its interim results statement, in which it reported sales down 2.7 per cent to €247.2 million and operating profits down marginally to €37.1 million compared to the first half of 2002.

"To focus management resources and finance in the pharmaceutical sector, the decision has been taken to divest the pharmaceutical chemical activities in all or part in the next six to nine months,"​ said the firm in a statement.

Recordati's pharmachem business accounts for around 16 per cent of the company's turnover and produces both active ingredients for its own proprietary pharmaceuticals, as well as active ingredients and intermediates for the generic drugs market.

Sales in the division fell 22.3 per cent in the first-half to €33.3 million, affected by currency factors and reduced profitability in the biochemical sector. Excluding pharmachem, Recordati's pharmaceutical sales rose 1.3 per cent to €213.9 million, helped by its lercanidipine calcium antagonist.

Chief executive Giovanni Recordati said that, in light of the first-half figures and little chance that the operating environment will change in the latter half of the year, the company has cut its full-year operating profits by €7 to €8 million to around €80 million.

Related news

Related products

Lactium, your ally to manage day to day stress

Lactium, your ally to manage day to day stress

Ingredia | 27-Aug-2020 | Product Presentation

Stress has been called the ‘health epidemic of the 21st century’ by the World Health Organization. Increasingly, consumers are looking for safe, reliable...

The Effect of Tamping Force on Bi-Layer Tablets

The Effect of Tamping Force on Bi-Layer Tablets

JRS PHARMA | 15-Aug-2020 | Technical / White Paper

Formulation of bi-layer or multi-layer tablets enables the combination of two or more drugs that may be incompatible or maybe intended for delivery at...

Related suppliers

Follow us

Products

View more

Webinars