Italy's Recordati has agreed to acquire Orphan Europe for â‚¬135 million ($191 million). Orphan Europe is a Paris-based pharmaceutical group that specializes in rare diseases. The deal should close by the end of 2007. Orphan Europe currently markets ten products that target mostly chronic and life-threatening diseases.
"The acquisition of Orphan Europe fits well with Recordati's growth strategy based on expansion and the strengthening of its product portfolio and pipeline," noted Giovanni Recordati, Chairman and CEO. "Orphan Europe represents a unique opportunity to strengthen our R&D capabilities and to establish even closer relationships with academic researchers and eminent scientists."
- see the releaseÂ from Recordati