Milan, 14 December 2012 – Recordati announces the signature of an agreement for the acquisition of all rights concerning a portfolio of products indicated for the treatment of rare and other diseases and marketed mainly in the United States of America, from Lundbeck LLC. The value of the transaction is of $ 100 million. The closing of the transaction, expected to take place in the first quarter 2013, is subject to certain conditions. Expected revenues in 2013 for the acquired portfolio are of around $ 40 million.
The acquired portfolio will be marketed in the U.S. by Recordati Rare Diseases, a wholly-owned U.S. corporation. The main product in the portfolio is Panhematin® (haemin for injection) for the amelioration of recurrent attacks of acute intermittent porphyria. Other important drugs acquired are NeoProfen® (ibuprofen lysine injection) and Indocin® I.V. (indomethacin injection), indicated to close a clinically significant patent ductus arteriosus (PDA) in premature infants, and Cosmegen® (dactinomycin for injection) used mainly in the treatment of three rare cancers: Wilms’ tumor, childhood rhabdomyosarcoma and choriocarcinoma. The portfolio also includes Chemet® (succimer) indicated for the treatment of lead poisoning in pediatric patients, Desoxyn® (methamphetamine hydrochloride) indicated for the treatment of attention deficit/hyperactivity disorder (ADHD) in children over 6 years of age and for the short-term treatment of exogenous obesity, and other minor products.
“The acquisition of this portfolio of products is a confirmation of Recordati’s intention to become a leading player in rare diseases worldwide and it will reinforce Recordati’s entry into the Hematology and Oncology fields (almost 50% of approved drugs for rare diseases are in this category). The acquisition of Lundbeck’s products will also contribute to the growth and enhancement of our current operation in the U.S.” declared Giovanni Recordati, Chairman and CEO. “We will continue in our accelerated strategy of enlarging our direct presence in the emerging markets in Central and Eastern Europe together with further investments in the field of rare diseases, with a special focus on the more developed pharmaceutical markets worldwide and, in particular, in the U.S.”.