Italy's Recordati has reported financials for the first quarter which show that revenues rose 5.2% to 171.9 million euros, while net income climbed 7.4% to 25.3 million euros.

Pharmaceutical turnover was up 6.3% to 163.4 million euros, with international sales climbing 9.3% to 116.7 million euros, boosted by the contribution of French group Orphan Europe, which was acquired at the end of 2007. The main driver of growth again was the blood pressure drug Zanidip/Lercadip (lercanidipine), sales of which rose 8.8% to 51.1 million euros.

Zanidip enjoyed strong growth in France (+15.4%), Spain and Germany, but fared less well at home in Italy -2.8%). However Recordati is looking to reduce its reliance on the drug and the Orphan deal provides it with some promising products.

Chief among these is Carbaglu (carglumicacid), a drug developed by Orphan for the treatment of hyperammonaemia due to an autosomal genetic disorder resulting in the deficiency of the liver enzyme N-acetylglutamate synthase. It was approved in the European Union in 2003 (2008 sales there are expected to be in the region of 6 million euros) and has just been filed for approval with the US Food and Drug Administration.

In a presentation to analysts, Recordati said that its priorities this year include a filing in Europe in the second half of silodosin, for the treatment of symptoms associated with benign hypertrophy of the prostate. The company also highlighted Stanate (stannsoporfin), under development for the treatment of neonatal hyperbilirubinemia (jaundice), and is also looking to expand its direct presence in eastern Europe.

Recordati added that it wants to “reinforce our presence in Germany, Spain and the UK through selective company and/or product acquisitions” and reiterated its full-year forecast for a net income rise of 14% on last year’s figure of 84.9 million euros. Revenues should climb 10% from 628.4 million euros in 2007.