May 6 – The pharmaceutical group Recordati ended positively its first quarter of 2014, as it continues to expand its activities abroad. The Board of Directors of the company approved the Financial Report at March 31, 2014 with consolidated revenues amounting to €260.4 million, a 6.5% increase compared to the same period of 2013. International revenues grew by 7%. EBITDA amounted to €71.4 million, for an increase of 16.4% compared to the first quarter of 2013, with a margin of 27.4%. Operating profit amounted to €62.2 million for an 18.1% increase compared to the same period of last year, with a margin of 23.9%. Net profit amounted to €42.8 million, for a 13.2% increase compared to the first quarter of 2013, with an EBITDA margin of 16.4%. The group’s initiatives at the international level in the month of February saw the company sign an exclusive license agreement with Apricus Biosciences Inc., a pharmaceutical company based in San Diego, USA, for the commercialization of Vitaros , an innovative topical product for the treatment of erectile dysfunction, in some Western European countries including Spain, the EU member states in central and Eastern Europe, Russia, Ukraine and the Commonwealth of Independent States, in Turkey and in some African countries.
