Recordati posts strong earnings growth for first nine months

31 October 2018

Italian drugmaker Recordati (RECI: MI) saw its shares gain 2.54% to 31.07 euros yesterday, after it released financial results for the first nine months of 2018, showing that sales increased 5.1% to 1.03 billion euros ($1.15 billion).

Earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 380.1 million euros, up 11.1%, and equal to 37.5% of sales. Operating income (EBIT) was 337.0 million, a rise of 9.6%

Among highlights of the company’s activities was the acquisition of the European and other market rights to Cystagon (cysteamine bitartrate) from Mylan and the acquisition of Natural Point in Italy. The reporting period also law the initial launches of Reagila (cariprazine) in Europe.

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