December 14, 2012 / 9:41 PM / 5 years ago

UPDATE 1-Lundbeck says to divest non-core products to Recordati

(Adds Recordati statement at paragraph 3)

COPENHAGEN/MILAN, Dec 14 (Reuters) - Danish pharmaceutical group Lundbeck said on Friday it agreed to divest a number of noncore products to Italy’s Recordati Industria Chimica e Farmaceutica SpA.

Lundbeck said in a statement the products to be divested did not focus on psychiatric and neurological disorders, which Lundbeck has chosen for its main long-term strategy.

In a separate statement, pharmaceutical group Recordati said it expected revenues of $40 million in 2013 from the distribution of the new portfolio in the United States.

At closing of the sale, expected in the first quarter of 2013, Lundbeck said it would receive $80 million, with an additional payment of up to $20 million upon product registration transfer.

The sale would have no influence on Lundbeck’s financial forecasts for 2012, it said. (Reporting by Copenhagen Newsroom, additional reporting by Antonella Ciancio in Milan; Editing by Gerald E. McCormick and Tim Dobbyn)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below