Sept. 9 - Recordati announced the acquisition of Laboratorios Casen Fleet SLU, a Spanish pharmaceutical company with headquarters in Madrid and manufacturing plant in Utebo, Zaragoza. The transaction, valued at € 93 million, will be funded from existing cash on hand and will be completed in the coming weeks. Casen Fleet products, mainly in gastroenterology therapies, are for the most part developed in Spain and Portugal, through their own organizations, and in other countries through licensing agreements. "The acquisition of Casen Fleet is an excellent opportunity to strengthen our presence in Spain and improve our profitability in this important market, the fifth European pharmaceutical market. It also allows us to acquire an attractive product portfolio, and in particular CitraFleet, for which we will have marketing rights worldwide," said Giovanni Recordati, chairman and CEO of the company.

RECORDATI
Recordati, established in 1926, is an international pharmaceutical group listed on the Italian Stock Exchange. Its 3,300 employees are dedicated to research, development, manufacturing and marketing of pharmaceutical products. Headquartered in Milan, Italy, it operates in the main European countrie , Russia and other countries of Central and Eastern Europe, Turkey and the United States of America. Thanks to a network of over 1,700 medical representatives, it promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas, including a specialized business dedicated rare diseases. Recordati is committed to the research and development of new drugs within the cardiovascular and urogenital therapeutic areas and of treatments for rare diseases. Its consolidated revenues in 2012 amounted to €828.3 million, operating profit amounted to €167.0 million and net income amounted to €118.5 million.