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Recordati finalizes acquisition of portfolio from Lundbeck

Wednesday, January 23, 2013

Recordati, a specialty pharmaceutical group based in Italy, has successfully concluded the acquisition of all rights concerning a portfolio of products indicated for the treatment of rare and other diseases and marketed mainly in the U.S. from pharmaceutical company Lundbeck. The value of the transaction is of $100 million, of which $80 million were paid at the closing.

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. Expected revenues in 2013 for the acquired portfolio are of around $ 40 million.

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