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RECORDATI : Positive Preliminary 2012 Results. Sales +8.7%, EBIT +2.1%, Net Income +1.8%

February 13, 2013 - Milan, Italy

* Consolidated revenue EUR 828.3 million, + 8.7%.

* Operating income EUR 167.0 million, + 2.1%.

* Net income EUR 118.5 million, + 1.8%.

* Net financial position*: net debt of EUR 153.5 million.

* Six OTC products acquired in Germany.

* Acquisition of Farma-Projekt and a portfolio of products in Poland.

* Acquisition of a portfolio of OTC products in Russia.

* Graspa®, a new cancer treatment in development, licensed fromErytech in Europe.

* Acquisition of Dentosan® oral care line in Italy.

* Subsequent events: Acquisition of a portfolio of treatments forrare diseases in the USA successfully concluded.

* 2013 targets and plan for 2015 announced.

The Board of Directors of Recordati S.p.A. examinedthe preliminary consolidated results for 2012 and the 2013-2015 plan.Thecompany's definite consolidated annual financial reports will besubmitted tothe Board for approval on 7 March 2013.

Financial highlights

* Consolidated revenue in 2012 is EUR 828.3 million, up by 8.7% comparedto the preceding year. Pharmaceutical sales are EUR 797.4 million, an increaseof 8.7% while pharmaceutical chemicals sales are EUR 30.9 million, anincrease of 8.9%.

* Operating income, at 20.2% of sales, is EUR 167.0 million, an increaseof 2.1% over the preceding year. Fourth quarter results includenon-recurring costs related to the acquisition of the European rights to Graspa®(EUR 5 million) and to the restructuring of our sales organization.

* Net income at 14.3% of sales is EUR 118.5 million, an increase of 1.8%.

* Net financial position* at 31 December 2012 records a net debt of EUR153.5 million as compared to a net debt of EUR 55.7 million at 31 December2011. During the year EUR 21.0 million were paid for the acquisition of sixOTC products in Germany, EUR 14.3 million overall were paid for theacquisitions in Poland of the pharmaceutical company Farma-Projekt plus a portfolioof products, EUR 67.2 million were paid for the acquisition of a product portfolio in Russia and dividends for a total of EUR 61.4 million were distributed.

* Cash and short-term financial investments net of bank overdrafts andmedium/long-term loans which include the measurement at fair value ofhedgingderivatives (fair value hedge).

Management comments

"During the year just ended important transactions were concludedandsignificant results were obtained for the growth andfurtherinternationalization of the group", declared Giovanni Recordati,Chairman andCEO. "During April the marketing authorizations, the trademarks andadditionalassets concerning six OTC pharmaceuticals for Germany were acquired. InAugusthe acquisition of 100% of the share capital of Farma-Projekt Sp. zo.o., aPolish pharmaceutical company with headquarters in Krakow, wassuccessfullyconcluded and a portfolio of products for the Polish market was acquiredfromLabormed. In October the Dentosan® oral care line of products wasacquired inItaly. In November the acquisition of all rights to five product lineson theRussian market was successfully concluded. Also in November oursubsidiaryOrphan Europe and Erytech Pharma, a French biopharmaceutical company,enteredinto an agreement granting Orphan Europe the exclusive rights forthecommercialization and distribution of Graspa® for the treatmentof AcuteLymphoblastic Leukemia (ALL) and Acute Myeloid Leukemia (AML) inEurope. InDecember an agreement for the acquisition of all rights concerning aportfolioof products indicated for the treatment of rare and other diseases andmarketedmainly in the United States of America, from Lundbeck LLC wassigned. Thetransaction was concluded successfully in January and Recordati RareDiseasesInc. was established in the USA. For 2013, our targets are to achievesales ofmore than EUR 920 million, operating income of more than EUR 185million and netincome of more than EUR 128 million. The objectives in our business planare toachieve sales of between EUR 1.025 and EUR 1.075 million, operatingincome ofbetween EUR 210 and EUR 220 million and net income of between EUR 140and EUR 150million."

Declaration by the Manager responsible for preparing the company'sfinancialreports

The manager responsible for preparing the company's financial reports,FritzSquindo, declares, pursuant to paragraph 2 of Article 154-bis oftheConsolidated Law on Finance, that the accounting information contained inthispress release corresponds to the document results, books and accountingrecords.

Meeting with the financial community and specialized press

Recordati S.p.A. will be hosting a meeting with the financialcommunity andspecialized press today, Tuesday 12 February 2013, at 4 pm at theheadquartersof Borsa Italiana, Palazzo Mezzanotte, Piazza degli Affari 6, Milan.At themeeting Recordati's preliminary full year 2012 results will be presentedand theGroup's development strategy and objectives for the period 2013-2015will bediscussed.

A simultaneous translation into English of the proceedings will beavailable viaconference call. Dial-in numbers are:

Italy +39 02 8058811, toll free 800 213 858
UK +44 1 212818003, toll free 800 0156384
USA +1 718 7058794, toll free 855 2656959
France +33 170918703
Germany +49 65 255114451

Callers are invited to dial-in 10 minutes before conference time. Ifconferenceoperator assistance is required during the connection please digit *followed by0 or call +39 02 8061371. A recording of the conference call will beplaced onthe website

A set of slides which will be referred to during the call will beavailable onour website under Investors/Company Presentations.

Recordati, established in 1926, is a European pharmaceutical group,listed onthe Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM,ISIN IT0003828271), with a total staff of over 3,300, dedicated to theresearch,development, manufacturing and marketing of pharmaceuticals.Headquartered inMilan, Italy, Recordati has operations in the main Europeancountries, inCentral and Eastern Europe, and in Turkey. A field force of more than1,700medical representatives promotes a wide range of innovativepharmaceuticals,both proprietary and under license, in a number of therapeutic areasincluding aspecialized business dedicated to treatments for rare diseases. Recordatiis apartner of choice for new product licenses from companies which do nothave aEuropean presence. Recordati is committed to the research anddevelopment ofnew drug entities within the cardiovascular and urogenital therapeuticareas andof treatments for rare diseases. Consolidated revenue for 2011 was EUR762.0million, operating income was EUR 163.5 million and net income wasEUR 116.4million.

Statements contained in this release, other than historical facts, are"forward-looking statements" (as such term is defined in thePrivate SecuritiesLitigation Reform Act of 1995). These statements are based oncurrentlyavailable information, on current best estimates, and on assumptionsbelieved tobe reasonable. This information, these estimates and assumptions may proveto beincomplete or erroneous, and involve numerous risks and uncertainties,beyondthe Company's control. Hence, actual results may differ materially fromthoseexpressed or implied by such forward-looking statements. Allmentions anddescriptions of Recordati products are intended solely as informationon thegeneral nature of the company's activities and are not intended toindicate theadvisability of administering any product in any particular instance.


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(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: RECORDATI via Thomson Reuters ONE


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