MILANO, Italy, Oct. 31, 2013 (GLOBE NEWSWIRE) --
Milan, 31 October 2013 - Recordati announces the successful conclusion of the acquisition of approximately 67% of the share capital of Opalia Pharma S.A., a Tunisian pharmaceutical company with headquarters in Ariana, a suburb of Tunis. This first tranche consists of the portion of the share capital held by non- Tunisian shareholders, one of which is The Abraaj Group. An amount of € 22.6 million were paid at the closing. The conclusion of the acquisition of a further 23% is expected to take place in the coming months. Opalia Pharma was established in 1988, ranks eighth in the Tunisian pharmaceutical market and is the third largest local pharmaceutical company. The company markets branded generic drugs with leading products in dermatology and in the gastrointestinal and respiratory therapeutic areas. Opalia manufactures most of its products in a modern, cGMP certified production facility specialized in liquid and semi-solid forms. The company employs around 320 people and generates annual sales of around TND 40 million (around € 18 million). Recordati, established in 1926, is an international pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), with a total staff of over 3,300, 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 and in the United States of America. A field force of more than 1,700 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas including a specialized business dedicated to treatments for rare diseases. Recordati is a partner of choice for new product licenses for its territories. Recordati is committed to the research and development of new drug entities within the cardiovascular and urogenital therapeutic areas and of treatments for rare diseases. Consolidated revenue for 2012 was € 828.3 million, operating income was € 167.0 million and net income was € 118.5 million. For further information: Recordati website: www.recordati.com Investor Relations Media Relations Marianne Tatschke Ketchum (39)0248787393 Cristina Risciotti, (39)0262411919, cristina.risciotti@ketchum.com e-mail: inver@recordati.it Marzia Ongaretti, (39)0262411915, marzia.ongaretti@ketchum.com Statements contained in this release, other than historical facts, are "forward- looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company's control. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements. All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company's activities and are not intended to indicate the advisability of administering any product in any particular instance. RECORDATI FINALIZES THE FIRST TRANCHE OF ITS ACQUISITION OF OPALIA PHA: http://hugin.info/143644/R/1739671/583970.pdf [HUG#1739671]
