RECORDATI : CROISSANCE INTERNATIONALE ET AUGMENTATION DE LA RENTABILIT? AU COURS DE 2006.

RECORDATI : CROISSANCE INTERNATIONALE ET AUGMENTATION DE LA RENTABILITÉ AU COURS DE 2006. EBIT : 120,3 MILLIONS D'EUROS (+8,3 %), BÉNÉFICE NET : 74,0 MILLIONS D'EUROS (14,7 %). CROISSANCE ATTENDUE POUR 2007.

• Le revenu consolidé atteint 576,2 millions d'euros, conforme à 2005.

• Revenu pharmaceutique en hausse de 0,1 % : baisse de 7,8 % des ventes en Italie, augmentation des ventes internationales de 5,4 %.

• Produit d'exploitation 120,3 millions d'euros, hausse de 8,3 %.

• Bénéfice net 74,0 millions d'euros, augmentation de 14,7 %.

• Prévisions pour 2007 : revenu de 650 millions d'euros, produit d'exploitation à 132 millions d'euros, bénéfice net à 83 millions d'euros

• Le taux de versement de dividendes de 2006 a atteint 50 % du revenu net consolidé.

Milan, 8 February, 2007 – The Board of Directors of Recordati S.p.A. examined the preliminary consolidated results for 2006. The company's annual financial reports will be submitted to the Board for approval on 6 March 2006.

Full year 2006 financial highlights

• Consolidated revenue is € 576.2 million, in line with that of the preceding year. International sales are € 372.8 million, up 5.1%, and represent 64.7% of total sales. Pharmaceutical sales are € 537.8 million with a 5.4% growth of the international business. In Italy sales are down by 7.8%. Lercanidipine, Recordati's original antihypertensive drug, continues to perform very well with global sales growing by 21.2%. Pharmaceutical chemicals sales are € 38.4 million and are substantially in line with those of the preceding year.

• Operating income, at 20.9% of sales, is € 120.3 million, an increase of 8.3% over the preceding year. The operating margin improvement is mainly due to gross profit which further improved to a margin on sales of 66.7%, thanks to a favorable product mix.

• Net income at 12.8% of sales is € 74.0 million, an increase of 14.7% over 2005.

Management comments

"During 2006, thanks to the continuing success of our original drug lercanidipine and to the careful management of the company's resources, the profitability of our business improved further compared to that of 2005: operating income grew by 8.3% and net income by 14.7%" stated Giovanni Recordati, Chairman and CEO. "Furthermore, our commitment to the European expansion of our business is again confirmed by the acquisition of Jaba Farmacêutica and the other pharmaceutical businesses belonging to Grupo Jaba in Portugal. The international part of our business will continue to increase in importance and will already represent over two thirds of revenues with the consolidation of the Portuguese companies in 2007. We will continue with our commitment to invest in research and development. The approval of Zanitek® in Germany was a very important event for the future development of our business. This new product is a fixed combination of lercanidipine and enalapril for the treatment of hypertension. Germany will act as Reference Member State in the mutual recognition approval process in the rest of Europe which is expected to be completed during 2007."

Outlook for 2007

The Board of Directors also examined the budget for the current year. Thanks mainly to the expansion of our international business and to the success of lercanidipine Recordati's objectives for 2007 are to generate sales of € 650 million, operating income of € 132 million and net income of € 83 million.

2006 Dividend

The Board of Directors, in view of the company's solid balance sheet and the continuing strong cash flow generation, agreed to propose to the General Assembly which will approve the 2006 accounts an increase of the dividend payout ratio to 50% of the consolidated net income.

Cooptation of a Director

Furthermore, the Board of Directors coopted Mr. Federico Nazzari as Director in substitution of Mr. Francesco Costantini who resigned following his appointment as Chairman of the Board of Directors of two competing companies.

Meeting with the financial community

The full year 2006 preliminary results and the outlook for 2007 are being presented today by Recordati to the financial community and specialized press. The meeting will take place at 5 pm Italian time at the Italian Stock Exchange, Palazzo Mezzanotte, Piazza degli Affari 6, Milan.

The presentation can be downloaded from the website www.recordati.com (Investors section, Company Presentations tab) as from 5 pm Italian time.

Conference call

A simultaneous translation into English of the proceedings will be available via conference call. Dial-in numbers are:

Italy +39 02 802 09 11
UK +44 208 7929 750
USA +1 866 2396 425
France +33 170 700 532
Germany +49 69 2222 2225

Recordati, established in 1926, is a European pharmaceutical group, listed on the Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT 0003828271), dedicated to the research, development, manufacturing and marketing of pharmaceuticals, with headquarters in Milan, Italy, operations in the main European countries, and a total staff of over 2,000. A European field force of over 1,000 medical representatives promotes a wide range of innovative pharmaceuticals, both proprietary and under license, in a number of therapeutic areas. Recordati's current and growing coverage of the European pharmaceutical market makes it a partner of choice for new product licenses from companies which do not have European marketing organizations. Recordati is committed to the research of new drug entities within the cardiovascular and urogenital therapeutic areas in which its research team has proven scientific competence and a track record of discovery and development of original drugs, the most recent of which, lercanidipine, a latest generation calcium channel blocker for the treatment of hypertension, is the company's leading product. Consolidated revenue for 2005 was € 576.1 million, operating income was € 111.1 million and net income was € 64.5 million.

For further information:

Recordati website: www.recordati.com

Investor Relations

Marianne Tatschke

(39)0248787393

e-mail: [email protected]

Media Relations

Claudio Rossetti (Echo Comunicazione d'Impresa)

(39)02 62694736

e-mail: [email protected]

Statements contained in this release, other than historical facts, are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best estimates, and on assumptions believed to be reasonable. This information, these estimates and assumptions may prove to be incomplete or erroneous, and involve numerous risks and uncertainties, beyond the Company's control. Hence, actual results may differ materially from those expressed or implied by such forward-looking statements.

All mentions and descriptions of Recordati products are intended solely as information on the general nature of the company's activities and are not intended to indicate the advisability of administering any product in any particular instance.

RECORDATI GROUP

Summary of consolidated results prepared in accordance with the International Accounting Standards and International Financial Reporting Standards (IAS/IFRS)

(thousands of €)