Recordati : Group pulls ahead in anticipation of a less favourable H2
>Q2 marked by tight control of opex - Recordati published a good set of Q2 figures at the end of last week, despite a less favourable base effect than in Q1 for its SPC business, combined with a negative forex effect due to the devaluation of the Turkish lira (impact of € 30m, most of which was in Q2). Sales rose by 4.2% over the period (in line with the consensus) to € 493m, still driven by the SPC business and rare diseases (+15% and +15.5% cc respectively in H1), ...Recordati-Industria Chimica e Farmaceutica is a pharmaceutical group based in Italy. Co.'s operations are divided into two operating segments: pharmaceuticals (and pharmaceutical chemicals) and orphan drugs. Co.'s products include ZANIPRESS®/ZANEXTRA®/LERCAPREL®/LERCARIL®, an antihypertensive drug; ZANIDIP®/CORIFEO®/LERCADIP® (lercanidipine), an antihypertensive drug discovered and developed in Co.'s research laboratories; UROREC® (silodosin), a new drug indicated for the treatment of benign prostatic hyperplasia; and LIVAZO®/ALIPZA® (pitavastatin), a statin for the treatment of dyslipidemia, among others.
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