Sept. 9 – Recordati announced the acquisition of Laboratorios Casen Fleet SLU, a Spanish pharmaceutical company with headquarters in Madrid and manufacturing plant in Utebo, Zaragoza. The transaction, valued at € 93 million, will be funded from existing cash on hand and will be completed in the coming weeks. Casen Fleet products, mainly in gastroenterology therapies, are for the most part developed in Spain and Portugal, through their own organizations, and in other countries through licensing agreements. “The acquisition of Casen Fleet is an excellent opportunity to strengthen our presence in Spain and improve our profitability in this important market, the fifth European pharmaceutical market. It also allows us to acquire an attractive product portfolio, and in particular CitraFleet, for which we will have marketing rights worldwide,” said Giovanni Recordati, chairman and CEO of the company.
