Wednesday, December 19, 2012

News Bulletin....Please Read Over

News Bulletin....

Lundbeck Pharmaceutical announced that they have sold Panhematin to Italian drug company, Recordati.

Italian drug maker Recordati has signed 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 USA, from Denmark' Lundbeck(LUND: DC). The closing of the transaction, is expected to take place in the first quarter 2013, and is subject to certain conditions.

The acquired portfolio will be marketed in the US by Recordati Rare Diseases, a wholly-owned US corporation. The main product in the portfolio is Panhematin (hemin for injection) for the amelioration of recurrent attacks of acute intermittent porphyria.

"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.".

Recordatiestablished in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), with a total staff of over 3,200, dedicated to the research, development, manufacturing and marketing of pharmaceuticals. Headquartered in Milan, Italy, Recordati has operations in the main European countries, in Central and Eastern Europe, and in Turkey.  A field force of around 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 from companies which do not have a European presence.  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.

Remember.... Research is the key to your cure!

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