RECORDATI
PRELIMINARY 2020 RESULTS CONFIRM CONTINUED GROWTH OF OPERATING INCOME AND NET INCOME. EBITDA +4.7% AND ADJUSTED NET INCOME +7.3%. - Seite 2
Management Comments
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“In 2020, our Group faced and successfully overcame various challenges, some of which were expected, such as the loss of exclusivity for some corporate products, others which emerged during the year at the onset of the COVID-19 pandemic. Despite the influence these events had on the market and therefore also on our business, the Group demonstrated resilience and the ability to react in a challenging environment. This allowed us to achieve absolutely positive results, with EBITDA of € 569.3 million, up by +4.7%, and Adjusted net income of € 410.4 million, up by +7.3%. This was possible thanks to all the Group employees who ensured the continuation of business even in the most acute stages of the epidemic”, stated CEO Andrea Recordati. “We were able to limit the impact of the pandemic by carefully managing costs and successfully increasing our business in the rare diseases sector, by adding Signifor and Signifor LAR to our portfolio and launching Isturisa, products acquired from Novartis in 2019. We also continued to work towards the growth and consolidation of our Group, with the launch of Cystadrops in the United States, and finalising new agreements to expand the portfolio. To this end, we added a license and supply agreement with ARS Pharmaceuticals, signed in September, for ARS-1, an epinephrine-based nasal spray, and an additional deal with Tolmar International Ltd, finalised at the beginning of 2021, for a license and supply agreement to market Eligard (leuprolide acetate), a marketed medicinal product for the treatment of hormone dependent advanced prostate cancer.