Italy's Recordati to acquire Spanish drugmaker

9 September 2013

In a second takeover deal this year, Italian drugmaker Recordati (RC: MI) says it has signed agreements to acquire 100% of the share capital of Laboratorios Casen Fleet, a Spanish pharmaceutical company with headquarters in Madrid and production facilities in Utebo, Zaragoza.

The value of the transaction (enterprise value) is of 93 million euros ($122.4 million), which will be funded from existing liquidity. The closing of the transaction is expected to take place in the following weeks. Recordati recently announced plans to buy 90% of Tunis-based Opalia Pharma, for an enterprise value of $48 million (The Pharma Letter July 25).

Main focus on gastroenterology product, led by Citrafleet

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