Recordati Reports Strong 2025 Results, Projects 2026 Growth Driven by Rare Diseases
Italian pharmaceutical company Recordati reported 2025 revenues of €2.6 billion and adjusted net profit of €651.1 million, with rare disease therapies driving 29.7% growth. The company projects 2026 core earnings of €995 million to €1.03 billion, anticipating continued momentum in its specialized rare disease treatments.
Italian specialty pharmaceutical company Recordati has announced strong financial results for 2025 and ambitious projections for 2026, driven primarily by its rare disease therapies. The Milan-based company reported consolidated net sales of €2.6 billion, up 11.8% compared to the previous year, with adjusted net profit reaching €651.1 million, a 14.5% increase.
Core earnings climbed 14.5% to €991.1 million, achieving a 37.8% margin on net revenue. The rare diseases division showed particularly strong performance, surging 29.7% compared to 2024, or 16.6% when accounting for comparable business conditions. The company's strategic shift toward specialized treatments for uncommon medical conditions has proven successful, with therapies targeting endocrine disorders leading the charge.
Looking ahead to 2026, Recordati projects core earnings between €995 million and €1.03 billion ($1.18-1.22 billion). The company anticipates net revenues ranging from €2.73 to €2.80 billion, though currency headwinds are expected to create roughly a 3.5% negative impact. Management also expects adjusted net income to fall between €655-685 million.
"There is excellent momentum in rare diseases, which continues to be a key driver of growth and value creation for the group," the Chief Executive Officer stated. The company's focus on rare disease treatments has helped protect it from pricing challenges and currency fluctuations that have impacted the broader European drug market.
Recordati specializes in treatments for rare diseases, urology, and metabolic disorders. Key brands include its Pituitary business with drugs like Signifor for acromegaly and Isturisa for Cushing's syndrome. The company's pipeline centers on cardiology and endocrinology, with istaroxime, a novel agent for acute heart failure, advancing in clinical studies. The company's strategy emphasizes bolt-on acquisitions to bolster its pipeline, avoiding the high-burn rates of pure R&D biotechs.