Recordati to co-market silodosin with Almirall

Recordati is “delighted” to have Almirall as a co-marketer in Spain for its treatment of benign prostatic hyperplasia (BPH).

During November 2008 the marketing approval authorisation of silodosin was submitted to the European Medicines Agency and a final decision is expected in the first six months of next year.

The companies will work together to advertise and sell the new compound that has been designed to aid the signs and symptoms of the condition, which is most commonly diagnosed in men aged 50 and over.

Giovanni Recordati, chairman and chief executive officer of Recordati, said he was pleased with the partnership.

“I am confident that the contribution of Almirall, the leading Spanish pharmaceutical company, will be fundamental to the success of this new therapeutic option in Spain,” he commented.

Last month, Recordati’s consolidated financial statements for 2008 were approved by the firm’s board of directors, which included a dividend increase of 16.3 per cent on the previous year.

Its targets for 2009 include generating revenue of around 750 million euros (685 million pounds) and a net income of approximately 105 million euros.