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Italy's Recordati sees no impact from potential US pharma tariffs
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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.

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