Recordati announces annual growth

A European pharmaceutical group based in Italy has announced its annual results for 2007, it has emerged.

Recordati, a company which deals in the development and manufacture of drugs including cardiovascular and urogenital products, has announced consolidated revenue increases of 9.1 per cent in the previous year.

The company also states that its pharmaceutical sales are have seen a rise of 10.5 per cent and adds that this is inclusive of the firms increased presence in the Portuguese market following acquisitions which took place in 2006.

It is also noted that despite price cuts imposed during the second half of 2006, international growth of 16.5 per cent was recorded during last year and sales of the company’s antihypertensive drug, Lercanidipine, are up by 8.9 per cent.

Recordati was established in 1926 and its Lercanidipine product, which operates as a calcium channel blocker in the treatment of hypertension, is its most valuable product.