Recordati Industria Chimica e Farmaceutica

What Recordati Industria Chimica e Farmaceutica does

Recordati Industria Chimica e Farmaceutica S.p.A. is a global pharmaceutical company founded in 1926 in Correggio, Northern Italy, and headquartered at Via Matteo Civitali 1, Milan. The company is listed on the Italian Stock Exchange (ticker RICFY / OTCMKTS:RCDTF) and is subject to the Management and Coordination Activities of Rossini Luxembourg S.àr.l. With over 4,700 employees and operations in approximately 150 countries, Recordati develops, manufactures, and commercializes medicines across two business segments: Specialty & Primary Care (cardiovascular and other established treatments) and Rare Diseases (Hema-Oncology, endocrinology). Leadership is provided by Chairman Andrea Recordati and CEO Rob Koremans, and a voluntary public tender offer by Respighi BidCo S.p.A. launched in 2026 signals an active ownership transition.

The Specialty & Primary Care segment is anchored by an established cardiovascular portfolio, most recently extended through the 2025 Amarin licensing deal adding Vazkepa (icosapent ethyl) across 59 countries with a focus on Europe. The Rare Diseases segment is built around Isturisa (osilodrostat) for Cushing's syndrome — recording approximately 1,400 net active patients in the U.S. with a peak sales estimate of greater than EUR 1.2 billion — and Enjaymo (sutimlimab) in Hema-Oncology, complemented by Inrebic (fedratinib). In 2025 Recordati added a global co-development and commercialization agreement with Moderna for mRNA-3927 in propionic acidemia (USD 50 million upfront), extending the franchise into a novel therapeutic modality. The company also operates wholly-owned Italian subsidiaries including Innova Pharma, Italchimici, and Natural Point under acquired brand retention, plus an Arrigo Recordati international scientific research prize.

Recordati monetizes its portfolio through direct field sales forces (recently expanded in the U.S. for Cushing's syndrome), engagement with physicians and HCPs via medical/scientific sales representatives, and regional licensing/distribution agreements (Amarin for Vazkepa in 59 countries; Impact Biomedicines for Inrebic in Japan). FY2025 preliminary results show consolidated net revenue of EUR 2,618.4 million (+11.8% YoY), EBITDA of EUR 991.1 million (+14.5%) at a 37.8% sector-leading margin, and adjusted net income of EUR 651.1 million (+14.5%). Rare Diseases generated EUR 1,081.4 million (+29.7%) with Hema-Oncology at EUR 414.9 million (+63.8%); Specialty & Primary Care broadly reaches over 100 million people, while Rare Diseases serves nearly 20,000 patients. Management's FY2026 targets are EUR 2,730–2,800 million in revenue and EUR 995–1,030 million in EBITDA. ESG positioning is anchored by FTSE4Good inclusion, MSCI ESG Rating A, EcoVadis Gold Medal, ISS ESG Prime Status C+, CDP Climate Change Score B, and MIB ESG Index inclusion since October 2021.

Name

Recordati Industria Chimica e Farmaceutica

Legal name

Recordati Industria Chimica e Farmaceutica S.p.A.

Website

https://recordati.com

Company type

Public

Founded year

1926

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Recordati is a global Italian pharmaceutical company developing and commercializing medicines across two segments — Specialty & Primary Care and Rare Diseases. It serves over 100 million patients with cardiovascular products and nearly 20,000 rare disease patients across approximately 150 countries.

Ownership category

akta.pro rank

Product category

Specialty & Rare Disease Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Specialty Care Pharmaceuticals (HLAIAAAB)

akta.pro secondary industries

Rare Oncology & Hematologic Malignancy Therapies (HLAIAIAC), Rare Endocrine & Growth Disorder Therapies (HLAIAIAJ)

Keywords

• Specialty pharmaceuticals
• Rare disease treatments
• Cardiovascular therapeutics
• Endocrinology medicines
• Pharmaceutical manufacturing

Headquarters

HQ city

Bologna

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Specialty & Primary Care: Pharmaceutical product sales of treatments for common diseases including cardiovascular medicines. This segment served over 100 million people with its portfolio, representing the traditional pharma commercial business with established products and broad market reach.
2. Rare Diseases: Specialized pharmaceutical treatments for rare diseases including Hema-Oncology (Enjaymo, EUR 414.9 million, up 63.8%) and Endocrinology (Isturisa). Revenue grew 29.7% to EUR 1,081.4 million, driven by strong uptake of Isturisa in the U.S. and Enjaymo growth.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Recordati develops, manufactures, and commercializes specialty and rare disease pharmaceutical products for global markets, organized into two segments: Specialty & Primary Care (cardiovascular and other common disease medicines including Vazkepa/icosapent ethyl) and Rare Diseases (Isturisa/osilodrostat for Cushing's syndrome, Enjaymo/sutimlimab in Hema-Oncology, Inrebic/fedratinib, plus mRNA-3927 in development with Moderna for propionic acidemia). The portfolio serves over 100 million people for common diseases and almost 20,000 patients with rare diseases across approximately 150 countries.

Product overview

Recordati is a global pharmaceutical company organized into two main business segments: Specialty & Primary Care and Rare Diseases. The Specialty & Primary Care segment focuses on common diseases including cardiovascular treatments (Vazkepa). The Rare Diseases segment covers rare conditions in Hema-Oncology (Enjaymo) and Endocrinology (Isturisa, Inrebic). The portfolio served over 100 million people in Specialty & Primary Care while nearly 20,000 patients received dedicated rare disease treatments. The two segments are complementary, with Rare Diseases showing exceptional growth of 29.7% and serving as a key driver for the company's strategic expansion.

Differentiator

Problem solved

Functional benefit

Products and services

• Isturisa (osilodrostat) Isturisa (osilodrostat) is a treatment for Cushing's syndrome, an endocrine rare disease, used by specialist endocrinologists for patients with endogenous hypercortisolism. The product is part of Recordati's Rare Diseases segment and generated strong U.S. growth supporting the doubled peak sales estimate of greater than EUR 1.2 billion.
• Enjaymo (sutimlimab) Enjaymo (sutimlimab) is a monoclonal antibody for rare Hema-Oncology diseases, part of Recordati's Rare Diseases franchise. It generated EUR 146 million in 2025 revenue (+26.7% YoY) and is a core driver of the Hema-Oncology franchise which reached EUR 414.9 million (+63.8%).
• Vazkepa (icosapent ethyl) Vazkepa (icosapent ethyl) is a best-in-class cardiovascular medicine commercialized by Recordati under an exclusive licensing and supply agreement across 59 countries with focus on Europe. It complements the existing Specialty & Primary Care portfolio and is supported by a robust clinical data package (REDUCE-IT outcomes data).
• Inrebic (fedratinib) Inrebic (fedratinib) is a JAK inhibitor treatment for rare hematologic diseases (myelofibrosis and related conditions) commercialized by Recordati under a Japan regional licensing agreement with Impact Biomedicines, extending the company's rare hematology footprint into the Japanese market.
• mRNA-3927 (propionic acidemia program) mRNA-3927 is an mRNA therapeutic in development for propionic acidemia, a rare metabolic disorder, partnered with Moderna under a global development and commercialization agreement. Recordati received USD 50 million upfront and contributes rare disease commercialization expertise alongside Moderna's mRNA technology platform.

Quantifiable outcome

• 11.8% revenue growth to EUR 2,618.4 million
• +6 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Amarin CorporationcoreChannel Partner/ Reseller/ Distributor · 1 March 2025Exclusive licensing and supply agreement to commercialize Vazkepa® (icosapent ethyl), a cardiovascular medicine, across 59 countries with focus on Europe. Recordati paid $25 million for this agreement, strengthening its cardiovascular portfolio with a best-in-class treatment supported by robust clinical data.
• ModernacoreStrategic or Co-development Partner · 1 January 2025Global partnership with Moderna to develop and commercialize mRNA-3927 for propionic acidemia (a rare metabolic disorder). Recordati received USD 50 million upfront payment. This collaboration leverages Moderna's mRNA technology platform with Recordati's rare disease commercialization expertise.
• Impact BiomedicinesminorChannel Partner/ Reseller/ Distributor · 1 January 2025Japan regional agreement for Inrebic (fedratinib), expanding Recordati's rare disease portfolio in the Japanese market. This partnership extends geographic reach for a rare hematologic disease treatment.

Scale indicators16 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Vertex Pharmaceuticals: Vertex is a global biotechnology company specializing in rare diseases (cystic fibrosis, sickle cell disease) with similar specialty/rare disease commercial focus. Comparable in EBITDA margin profile and growth trajectory in niche indications.
• BioMarin Pharmaceutical: BioMarin is a rare disease-focused biotech with a similar portfolio approach in ultra-rare genetic conditions. Both companies target small patient populations with high-value specialty therapeutics and have analogous commercial models.
• Swedish Orphan Biovitrum (Sobi): Sobi is a Swedish specialty pharmaceutical company focused on rare diseases and specialty care. Both companies share a European heritage, dual focus on rare diseases and specialty/primary care, and serve similar HCP and patient populations in hematology and endocrinology.
• Ipsen: Ipsen is a European specialty pharmaceutical company with a focus on rare diseases, oncology, and specialty care. Both are mid-to-large cap European pharma companies with similar specialty/rare disease portfolio balance and geographic presence.
• Jazz Pharmaceuticals: Jazz Pharmaceuticals is a specialty pharma company with a growing rare disease and neurology portfolio. Both companies pursue specialty care and rare disease franchises with similar HCP-focused commercial models.

Regional players

• Chiesi Farmaceutici: Chiesi is an Italian-headquartered specialty pharmaceutical company with focus on rare diseases, respiratory, and specialty care. Strong geographic and product overlap with Recordati, particularly in European specialty care markets, though with more respiratory focus.
• Menarini Group: Menarini is a large Italian pharmaceutical company with a diversified specialty care and consumer health portfolio. Similar heritage as a privately-held Italian pharma, with comparable specialty/primary care focus and European commercial footprint.
• Almirall: Almirall is a European specialty pharmaceutical company focused on dermatology and specialty care. Both are mid-cap European pharma with specialty care focus, though Almirall concentrates more in dermatology.

Broad incumbents

• Takeda Pharmaceutical (Shire legacy): Takeda, with the acquired Shire rare disease franchise, is a broad incumbent in rare diseases including hematology and endocrinology. They compete with Recordati in rare hematology and specialty therapeutics but at much larger scale.
• Alexion / AstraZeneca Rare Disease: Alexion, now part of AstraZeneca, is a leading rare disease franchise with hematology and metabolic disorder focus. Enjaymo competes with established rare hematology products like Soliris/Ultomiris in adjacent indications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/recordati

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Recordati Industria Chimica e Farmaceutica