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Recordati Industria Chimica E Farmaceutica SpA Concludes Acquisition of Laboratorios Casen Fleet S.L.U.

Monday, 21 Oct 2013 03:20am EDT 

Recordati Industria Chimica E Farmaceutica SpA announced that it has concluded the acquisition of 100% of the share capital of Laboratorios Casen Fleet S.L.U., a Spanish pharmaceutical company with headquarters in Madrid and production facilities in Utebo, Zaragoza. The value of the transaction (enterprise value) is of EUR 93 million of which EUR 89.5 million were paid at the closing. Casen Fleet primarily markets internally developed drugs principally in the gastroenterological therapeutic area in Spain and Portugal through its own organization and in other countries through partners. Approximately 55% of revenue is generated by a line of products used in the preparation for colonoscopy. The main product in this line is Citrafleet, already marketed by Recordati in Germany. Its product portfolio also comprises oral rehydration products, probiotics and OTC brands for gynecological use. 

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