Recordati’s pharmaceutical revenue rises by over 10%

Recordati has published its financial results for the first nine months of 2009, revealing that its pharmaceutical revenues have risen by 10.4 per cent.

The firm’s consolidated revenue for the period reached 556.2 million euros (498.7 million pounds), representing an increase of 9.4 per cent.

Its international sales rose by 13 per cent, reaching 398.2 million euros, while the organisation’s operating income increased by 9.5 per cent to 121.8 million euros.

Net income stood at 85.3 million euros – a rise of 11.3 per cent – a figure higher than that recorded by operating income due to lower financial expenses.

In July 2009, Giovanni Recordati, chairman and chief executive of the company, said the firm is “very pleased” with its sales results for the first half of the year.

He added that the results demonstrated the validity of the firm’s plans to expand its pharmaceutical operations, principally through the enhancement of its product portfolio.