Italian Pharma Company Recordati Acquires ItalchimiciBy
Recordati, a Milan, Italy-based pharmaceutical company has acquired Italchimici S.p.A., also an Italian pharmaceutical company with operational headquarters in Milan for EUR 130 million ($145 million). Recordati acquired the company from Progressio SGR, manager of the fund Progressio Investimenti II, IDeA Capital Funds SGR, manager of the fund Fondo IDeA Efficienza Energetica e Sviluppo Sostenibile, and managers of the company itself.
Italchimici, with over 40 years of history, had 2015 revenues in 2015 of EUR 46 million ($51 million). The company offers therapeutical solutions mainly in the gastroenterological and respiratory areas of both pharmaceutical products as well as food supplements and medical devices. Its main brands are Reuflor, Peridon and Lacdigest in the gastroenterological offering and Aircort among the respiratory products.
Recordati has a total staff of around 4,000, dedicated to the research, development, manufacturing and marketing of pharmaceuticals. Headquartered in Milan, Italy, Recordati has operations in the main European countries, in Russia, in other Central and Eastern European countries, in Turkey, in North Africa and in the United States. It recorded 2015 revenues of EUR 1.048 billion ($1.169 billion).