Recordati sells rights to Tradorec XL

The sales and marketing rights for Tradorec XL in the UK have been sold by Recordati Ireland.

Rights to the once-daily tramadol product were sold to Labopharm last week. The name Tradorec XL will still be used.

Labopharm, which manufactures the product, is now on the lookout for a new marketing partner for development of the brand in the UK.

James R Howard-Tripp, president and chief executive officer at Labopharm, said that the company is aiming to replicate tramadol’s penetration in the Spanish, Italian and Canadian sectors in the UK.

“The market for tramadol products in the UK continues to exhibit strong growth and we are confident in both our product and its prospects in this market,” he continued.

Recordati recently announced its first quarter results, revealing a consolidated revenue of 171.9 million euros (137.3 million pounds) and a pharmaceutical revenue of 163.4 million euros.