Oct. 21 – Recordati expands into Spain. The Italian pharmaceutical group recently acquired Laboratorios Casen Fleet, the Spanish pharmaceutical company headquartered in Madrid with manufacturing plant near Zaragoza. The value of the transaction was €93 million, as the company has about 230 employees and sales in 2012 amounting to €45.3 million. Casen Fleet develops internally its products, specializing in therapeutic gastroenterology, and sells them directly in Spain and Portugal and in other countries through licensing agreements. About 55 % of revenues in 2012 were generated from colonoscopy preparation products, of which the main drug is CitraFleet, already marketed by Recordati in Germany. The company’s product portfolio also includes oral formulas for rehydration, probiotics and OTC drugs for gynecological use. About 80% of its revenue is derived from sales to private pharmacies, which are not subject to public refunds. Casen Fleet develops and manufactures most of its pharmaceutical products at its plant in Utebo, which covers a total area of 23,165m2.
