financetom
Business
financetom
/
Business
/
Italy's Recordati sees no impact from potential US pharma tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Italy's Recordati sees no impact from potential US pharma tariffs
Nov 9, 2024 1:16 PM

MILAN, Nov 7 (Reuters) - Italian drug maker Recordati

is not concerned about potential new U.S. tariffs

under president-elect Donald Trump as it expects them to have no

impact on its rare diseases business, the company's chief

financial officer said on Friday.

One of the main concerns in Europe and elsewhere from

Trump's re-election victory this week is his campaign pledge to

impose tariffs on a wide range of goods, including

pharmaceutical products.

"Our business in the U.S. is only on rare diseases. I don't

know what the intentions are, the rare disease business

generally has different dynamics (from other potentially

affected pharma products)," Luigi La Corte told Reuters.

The CFO noted that the U.S. has become Recordati's leading

market in terms of turnover, with just under 17% of the total.

La Corte also said Recordati would unveil its 2025 outlook

in February, along with preliminary 2024 results, taking into

account its recent acquisition from Sanofi of the

global rights to Enjaymo, a rare immune disorder drug.

On the M&A front, he said Recordati continued to look for

opportunities in the speciality, primary care and rare diseases

sectors both in Europe and the U.S., and was examining several

dossiers.

Earlier on Friday, Recordati confirmed its 2024 guidance,

which it raised in July, after posting a 11.8% jump in its

nine-month core profit boosted by a strong business momentum in

the speciality and primary care and rare diseases segments.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Snap Prices $1.5 Billion Private Debt Offering
Snap Prices $1.5 Billion Private Debt Offering
Feb 12, 2025
03:44 AM EST, 02/12/2025 (MT Newswires) -- Snap (SNAP) said late Tuesday it has priced a private offering of $1.5 billion worth 6.875% senior notes due 2033. The sale is expected to close on Friday and is estimated to yield around $1.48 billion in net proceeds, which Snap said it will use to repurchase about $1.45 billion in convertible notes...
Ahold Delhaize CEO sees US tariffs on Canada, Mexico driving prices up
Ahold Delhaize CEO sees US tariffs on Canada, Mexico driving prices up
Feb 12, 2025
(Reuters) - Supermarket group Ahold Delhaize expects U.S. tariffs on Mexico and Canada to lead to price increases for food and vegetables as well as paper products, group CEO Frans Muller told Reuters on Wednesday. Ahold, which runs U.S. chains including Food Lion, Stop & Shop, and Hannaford, is considering sourcing more products from the West Coast and states such...
Forafric Global Divesting Non-Core Assets; Names Khalid Assari CEO
Forafric Global Divesting Non-Core Assets; Names Khalid Assari CEO
Feb 12, 2025
03:39 AM EST, 02/12/2025 (MT Newswires) -- Forafric Global ( AFRI ) said late Tuesday it was divesting its non-core assets that included assets outside Morocco, durum wheat focused operations, and logistics activities in Morocco to strengthen its balance sheet. The divestment will generate roughly $80 million to $100 million in gross proceeds, the company added. Forafric also said it...
Valens Semiconductor Approves $15 Million Share Buyback
Valens Semiconductor Approves $15 Million Share Buyback
Feb 12, 2025
03:39 AM EST, 02/12/2025 (MT Newswires) -- Valens Semiconductor ( VLN ) said late Tuesday its board approved the repurchase of up to $15 million worth of ordinary shares. Shares buybacks will be subject to completion of regulatory requirements, the company said. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved