Recordati sees revenue growth in 2009

Recordati has published its financial results for 2009, a year which saw the company experience growing revenues compared to 2008.

The pharmaceutical firm’s consolidated revenue for the 12-month period was 747.5 million euros, (648.6 million pounds), which represents a year-on-year increase of 8.4 per cent.

It attributed this improvement primarily to increased sales from its international pharmaceuticals business, as well as the integration of newly-acquired subsidiaries such as Yeni Ilac aand Herbacos-Bofarma.

Giovanni Recordati, the firm’s chairman and chief executive officer, stated that it hopes to sustain this growth through 2010 via the launch of new compounds and products.

He added: “Our excellent financial position allows us to continue to execute our expansion strategy through the acquisition of both new products and direct presence in new markets.”

Earlier this month, Recordati was granted approval by the European Commission for Urorec and Silodyx, two new capsule-based treatments for those affected by benign prostatic hyperplasia.