Recordati, the Italian drug manufacturer, praised the financial strength and prospects of its Czech unit, Herbacos Recordati(formerly Herbacos-Bofarma), whose results, which were for the first time integrated in the company’s financial report for 2009, amounted to €12.2m in 2009. Recordati sees the unit as a good platform for launching its products in the Czech and Slovak pharma markets. It also stressed that Herbacos had a solid financial situation and that its EBITDA margin was in line with the group.
Recordati acquired the Czech drug manufacturer at the end of January 2009 in a deal valued at €19m. At the moment the company employs 100 people, including a marketing network of 35 staff. Based in Pardubice, Herbacos is present on the Czech and Slovak pharmaceutical markets with a diverse drug portfolio dominated by analgesics, anti-inflammatory and dermatological products, with strong brands in the respective segments.
In 2009 annual report Recordati posted 8.4% y-o-y increase of sales revenues to €747.5m. Pharmaceutical revenues grew by 9.4% to 720.6m, including the consolidation of Yeni Recordatiin Turkey and of Herbacos Recordati in the Czech Republic and Slovakia. On a like-for-like basis pharmaceutical sales were up by 4.9%.
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