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Home Industry News Recordati Pharmaceuticals acquires European license for pitavastatin

Recordati Pharmaceuticals acquires European license for pitavastatin

28th October 2008

Recordati Pharmaceuticals has announced the signing of a new agreement with Kowa Pharmaceutical Europe (KPE) for the marketing and sales of pitavastatin in Italy, Turkey, Cyprus, Ireland, Greece, Portugal, Spain, France, as well as Russia and Commonwealth of Independent States (CIS) countries.

The company explains pitavastatin is a statin for the treatment of hypercholesterolaemia.

It notes that the request for approval dossier was submitted by KPE in seven of the countries covered by the agreement using the decentralised procedure at the end of August and the seeking of approval in the remaining countries will be the responsibility of Recordati.

Giovanni Recordati, chairman and chief executive officer of the company, states the agreement with KPE is an “important” opportunity for the firm to extend its presence in the cardiovascular sector.

He adds: “The statins market in the eight largest of the 21 countries covered by the agreement was worth 2.8 billion euros in 2007 and is expected to grow further in the future, particularly in emerging markets such as Turkey, Russia and the CIS countries.

In recent weeks, the company announced the call for nominations for the fifth edition of the Arrigo Recordati International Prize for Scientific Research.

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