Recordati highlights UK launch of Zanidip in results

Recordati, the Milan-based pharmaceutical company, has highlighted the UK launch of Zanidip, a calcium channel blocker, in its financial results for the first nine months of 2006.

The company claims it is ready to launch more drugs from its product pipeline in what it considers to be an “important market”, with the help of its 65 medical representatives operating in Britain.

Recordati reported an increased consolidated revenue, while net income went up by nearly ten per cent to 55.9 million euros (37.3 million pounds). However, the firm reported a decline of revenues in Italy because of pricing pressures.

Furthermore, Giovanni Recordati, the company’s chairman and chief executive, said this was likely to increase in the fourth quarter of the year, although the positive international sales performance will “mitigate” the effects of this.

“In the first nine months of this year our results confirm once again our group’s growth and profitability improvement, thanks to the development of our international pharmaceutical operations,” he said.

In July, Recordati purchased Jaba Farmaceutica of Portugal in a 45 million euro deal. Mr Recordati claimed that the acquisition will allow his company to expand its European presence.

Recordati established its UK subsidiary last year in Staines, Middlesex.