Recordati acquires a portfolio of OTC products in Russia

Italian drugmaker Recordati (RC: MI) yesterday announced the signing of agreements covering the acquisition of all rights to five product lines on the Russian and Commonwealth of Independent States (CIS) market: Alfavit, Qudesan, Vetoron, Focus and Carnitone.

The value of the transaction, which will be funded from existing liquidity, is of 2.7 billion roubles ($87 million). The closing of the operation, expected to take place before year-end, is subject to certain conditions.

The brands of the products acquired, which are over-the-counter (OTC) pharmaceuticals and dietary supplements, are very well known in Russia. The Alfavit product line in particular comprises a wide range of formulations containing vitamins and minerals and holds a leading position on the market. Qudesan is based on coenzyme Q10, an adjuvant for cardiac function, promoted for the prevention and treatment of chronic fatigue and metabolic dysfunction. The key ingredient in Vetoron is beta-carotene, Focus contains bilberry anthocyanins and lutein for eye health and Carnitone is a source of L-carnitine.