CVC consortium tables $12.4bn bid to delist Italian drugmaker Recordati

One of Italy’s lone publically traded ample pharma companies could soon beryllium taken into backstage ownership, aft backstage equity steadfast CVC Capital Partners and Belgian concern radical Groupe Bruxelles Lambert (BGL) launched a $12.4bn (€10.7bn) takeover bid for Recordati.

At the extremity of March, CVC – which holds a controlling 46.8% involvement successful Recordati – confirmed a non-binding afloat takeover offer, aimed astatine delisting the drugmaker from the Italian banal exchange. In a 22 May notice, Recordati confirmed that the consortium is offering €51.29 per share, which reflects a 12.89% premium to the pharma company’s stock terms connected 25 March, conscionable earlier CVC’s involvement was archetypal revealed.

A announcement explaining the reasons for the connection said: “Operating arsenic a privately held institution would alteration Recordati to payment from accrued organisational and operational flexibility and a much businesslike decision-making process, portion preserving strategical continuity and focus.”

In a statement, the drugmaker said the caller connection is "supported by a committed, flexible and unchangeable shareholder base, wherever CVC and GBL volition spouse arsenic co-control investors with a wide committedness to enactment the company's improvement implicit the agelong term."

Recordati was founded successful 1926 arsenic a household ​pharmacy successful ⁠Northern Italy. The institution present has a footprint successful implicit 150 countries, with some pharmaceutical and chemic units.

Recordati has seen its fiscal presumption fortify implicit caller years. In 2025, its revenues roseate 8.3% to €2.62bn, fuelled by precocious maturation successful its uncommon illness segment. Included successful this is Cushing’s syndrome therapy Isturisa (osilodrostat), which had its highest income forecast doubled to €1.2bn by the institution successful November 2025.

Italy’s pharmaceutical scenery is 1 that struggles to find a equilibrium betwixt home maturation and exports. It is wide regarded arsenic 1 of the apical destinations successful Europe for declaration manufacturing, but Italian drugmakers conflict to grow owed to fragmented task capital. The largest drugmakers – Menarini, Chiesi Farmaceutici, and Angelini Pharma – are each privately owned, which makes Recordati’s imaginable delisting adjacent much pertinent.

The Italian pharma manufacture has, however, seen a flurry of dealmaking successful 2026. Angelini spent $4.1bn to get US-based uncommon illness specializer Catalyst Pharmaceuticals successful May. A period later, Chiesi agreed to bargain KalVista Pharmaceuticals – besides a uncommon illness cause developer – for $2bn.

"CVC consortium tables $12.4bn bid to delist Italian drugmaker Recordati" was primitively created and published by Pharmaceutical Technology, a GlobalData owned brand.