July 28 (Reuters) – Italian drug maker Recordati on Tuesday posted an 8.8% rise in its first-half core profit (EBITDA) to €540.2 million ($615.6 million) boosted by its rare diseases segment. The results follow an announcement earlier this month that a majority of Recordati’s board deemed a €10.7 billion cash offer from private equity firm […]
Health
Recordati first-half core profit rises 8.8% on rare diseases
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July 28 (Reuters) – Italian drug maker Recordati on Tuesday posted an 8.8% rise in its first-half core profit (EBITDA) to €540.2 million ($615.6 million) boosted by its rare diseases segment.
The results follow an announcement earlier this month that a majority of Recordati’s board deemed a €10.7 billion cash offer from private equity firm CVC Capital Partners and Belgian investment group Groupe Bruxelles Lambert to be “fair,” even as its four independent directors dissented.
• Rare diseases revenue rose 17.1% to €603.9 million, with Isturisa, a treatment for Cushing’s syndrome, surging 58% to €178.8 million
• First-half adjusted net income rose 6.7% to €349.9 million
• The Milan-based firm confirmed its full-year 2026 financial targets as shareholders weigh a takeover offer that has divided its board
• “Rare diseases remains the key growth driver, with Isturisa delivering another excellent quarter driven by expanded physician adoption, increased patient demand and improved commercial execution,” CEO Rob Koremans said
($1 = 0.8774 euros)
(Reporting by Romolo Tosiani in Gdansk; Editing by Matt Scuffham)