Annual Report 2025

Today and the Future

Recordati is uniquely structured to bring treatment options across specialty and primary care, consumer healthcare, and rare diseases. We have fully-integrated operations across research & development, chemical and finished product manufacturing through to commercialisation and licensing.

We are continually growing, with a focus on developing new specialties, new treatments and investing in medical innovations that bring a brighter future to patients across the world.

Headquarters in Milan, Activities Worldwide

Group Highlights

~4.7K

Total employees in 2025

~150

Total Markets in EMEA,
Americas and APAC Regions

2,618.4

Million Euros

10

Production sites*

*Pardubice plant ceased its activities on 31 December 2025

We pursue a sustainable growth model by integrating social and environmental aspects into our corporate strategy.


In 2025, more than 100 million people benefitted from our Specialty & Primary Care portfolio.

And almost 20,000 patients living with rare diseases received dedicated treatments.

Our Company Culture

The Recordati culture is built on the pillars of entrepreneurship, purpose and belonging. We strive to ensure everyone feels welcomed, respected, and supported in their professional and intellectual growth, and appreciated for their uniqueness and diverse talent. To support our people, we continue to promote and build our culture, to allow people to be their full selves at work, feel safe to speak up and empowered to make decisions, experiment and innovate.

Our purpose:

Recordati. Unlocking the full potential of life.

“Our people remain central to Recordati’s success. In 2025, we continued to invest in engagement, inclusion and development, supported by a strong participation in our Group Engagement Survey and the introduction of refreshed company values. By fostering a culture where people feel supported, included and empowered to grow, we strengthen both individual fulfilment and the long‑term performance of the organisation.”

Alessandra Abate

Executive Vice President, Group Chief People and Culture Officer

People Highlights

Our people are at the heart of our success. When employees feel engaged, supported, and empowered to grow, they bring greater energy, creativity, and commitment to their work. This not only enhances their own job satisfaction and well-being but also drives stronger performance across the company. That’s why we invest in opportunities for our people to develop, grow, and build fulfilling careers with us.

4.693

Total number of employees at end of FY2025 (2% growth vs. 2024)​

50%

of all employees are women

95%

of employees hired on permanent contracts

134,000

Total training hours across the company

29

hours of training per person

95%

of employees received D&I training

369

Top and senior managers

36%

of women in Top
and Senior Manager positions

40%

of women on the Board of Directors

People employed by region

63%

Europe

23%

Asia/Oceania

7%

Africa

7%

America

Career & Culture Initiatives

Defined the new Group Values

In 2025, we took an important step in articulating what makes Recordati distinctive by introducing refreshed values and the Recordati Flame. While these values have long been present in our culture, 2025 marked a deliberate shift to make them explicit, shared, and more actively lived across the organisation. The Recordati Flame symbolises the commitment and passion our people bring to their work and unites us in delivering value for patients, healthcare professionals and shareholders.

People Engagement
For the purpose of collecting structured feedback from employees and encouraging open, transparent dialogue, the second People Engagement Survey was conducted in 2025. Aimed at the entire company workforce, it recorded an excellent participation rate of 84%.

For more information about our People & Culture initiatives, visit our corporate website.

For more information, please refer to the Consolidated Sustainability Statement.

Specialty & Primary Care

We have a strong and proven heritage of supporting people living with a wide range of common illnesses that affect large populations day-to-day. Across Specialty & Primary Care (SPC), we create value for patients, payers, and physicians with both prescription and self-medication treatments, with a focus on cardiovascular, urological, gastrointestinal and cough and cold therapy areas. We provide treatments globally, with direct presence in Europe, North Africa and Türkiye and have proven experience in supporting access to medicines throughout their lifecycle.

Rare Diseases

There are currently over 7,000 known rare diseases, but approved treatment only exists today for fewer than 10% of them.
We operate in this segment worldwide through Rare Diseases, a entirely dedicated business unit to the research, development and marketing of medicines for the treatment of rare diseases, which share the conviction that every person with a rare disease has the right to the best possible treatment.

Its business is mainly in three treatment areas:

  • Metabolic
  • Endocrinology
  • Hema-Oncology

Pharmaceutical Chemicals

The key focus of our pharmaceutical chemicals business is providing quality Active Pharmaceutical Ingredients (API) for some of the company’s key drugs across both business units, with residual capacity made available to manufacture and commercialise APIs to third party customers worldwide. 

Geographical Presence

Present in around 150 countries with our SPC products and our treatments for rare diseases in years 2024-2025.

  • Subsidiaries, branches, permanent establishment and direct promotion
  • Licensees, distributors, commercial agreements
  • Subsidiaries, branches, permanent establishment and direct promotion
  • Licensees, distributors, commercial agreements

We operate several state-of-the-art production sites where the manufacturing of finished products and active ingredients has been closely linked with pharmaceutical activities since the beginning of the company’s history.

Production Sites

Our production sites are equipped with state-of-the-art installations and the research laboratories are fitted with the latest equipment. 

Recordati has seven pharmaceutical production facilities, all of which operate in full compliance with environmental protection regulations and current Good Manufacturing Practice (cGMP).

The Group also has one packaging and distribution center in Nanterre (near Paris), France, dedicated to rare disease products. The site delivers, at short notice, more than 27,000 orders annually to more than 60 countries worldwide.

In addition, the Group also produces several active ingredients and intermediates for the pharmaceutical industry at two pharmaceutical chemical plants: one in Campoverde di Aprilia and the other in Cork, Ireland. 

Dedicated to products for Rare Diseases

Product Pipeline & Future Developments

We are committed to continuing to bring innovation that benefits patients. We continuously develop new specialties originating either internally or acquired through development agreements with other pharmaceutical companies and research institutes. Commitment, scientific rigour, capability and highly-specialised personnel allow us to develop new treatments and build an innovative product pipeline.

For more information about our R&D projects, visit our corporate website. 

Portfolio

Below are the key achievements of 2025

Isturisa®

A particular focus during the year was the continued global expansion of Isturisa® (osilodrostat) for the treatment of Cushing’s syndrome. In the United States, the indication was expanded to include a broader population of patients with endogenous hypercortisolemia, while Isturisa® was launched in Brazil and Canada.

These milestones reflect sustained efforts across our regulatory, medical and commercial teams, and reinforce Isturisa®’s role as a cornerstone of our Rare Diseases portfolio.

Vazkepa®

On June 24, 2025, we announced a licensing and supply agreement with Amarin to commercialise the marketed cardiovascular medicine, Vazkepa® (icosapent ethyl) across 59 countries, focused on Europe.
Vazkepa® is indicated to reduce the risk of cardiovascular events in statin-treated adult patients at high cardiovascular risk with elevated triglycerides and either established cardiovascular disease or diabetes with at least one other cardiovascular risk factor.

Inrebic®

On December 17, 2025, we announced the exclusive license agreement with Impact Biomedicines,
Inc. and the related supply agreement with Celgene Logistics Sàrl to commercialise Inrebic® (fedratinib dihydrochloride monohydrate) in Japan. Inrebic® is an oral kinase inhibitor with activity against wild-type and mutationally activated JAK2 to suppress the pathological features of myelofibrosis patients.