Recordati pharmaceutical revenue climbs over 10 per cent

Recordati’s pharmaceutical revenue climbed 10.8 per cent over 2008, it has been revealed.

Now standing at 658.4 million euros (595.7 million pounds), the proceeds were also joined by a 10.1 per cent rise in operating income to 144.7 million euros and a 13.9 per cent increase in international sales, which now stands at 483.8 million euros.

The organisation noted its worldwide purchases now account for 70.2 per cent of the total transactions.

Giovanni Recordati, chairman and chief executive of the company, said 2008 saw growing revenues and profits, along with important initiatives for the firm’s future development.

He added the group also continued to enhance its product pipeline over the year.

Last month, Recordati acquired Czech pharmaceutical company Herbacos-Bofarma for 19 million euros.

Speaking at the time, Mr Recordati said the purchase represented a “further step” in the organisation’s strategy to build a presence in central and eastern Europe.