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2016-05-05

RECORDATI: EXCELLENT RESULTS IN THE FIRST QUARTER 2016. SALES +9.6%, OPERATING INCOME +22.7%, NET INCOME +26.0%

* Consolidated revenues € 302.2 million, +9.6%.
* EBITDA(1)€ 99.0 million, +19.6%
* Operating income € 90.2 million, +22.7%.
* Net income € 65.5 million, +26.0%.
* Net financial position(2): net debt of € 42.1 million.
* Shareholders' equity € 916.5 million.
* Full year 2016 targets: sales of more than € 1,100 million, operating
income of more than € 310 million and net income of more than € 220
million.

Milan, 5 May 2016 -
The Board of Directors of Recordati S.p.A. approved the Group's consolidated
results for the first quarter 2016 prepared in accordance with International
Accounting Standards and International Financial Reporting Standards
(IAS/IFRS) and in particular as per IAS 34 requirements for interim
reporting. These financial statements will be available today at the
company's offices and on the company's website www.recordati.com and can also
be viewed on the authorized storage system 1Info (www.1Info.it).

Financial
highlights

* Consolidated revenues in the first quarter 2016 are € 302.2 million, up by
9.6% compared to the same period of the preceding year. International sales
grow by 11.5%.
* EBITDA (1), at 32.7% of sales, is € 99.0 million, an increase of 19.6% over
the same period of the preceding year.
* Operating income , at 29.8% of sales, is € 90.2 million, an increase of
22.7%.
* Net income, at 21.7% of sales, is € 65.5 million, an increase of 26.0% over
the first quarter of 2015.
* Net financial position (2)at 31 March 2016 records a net debt of € 42.1
million.Shareholders' equity increases to € 916.5 million.

(1)
Earnings before interest, taxes, depreciation and amortization.
(2)
Cash and short-term financial investments less bank overdrafts and
medium/long-term loans which include the measurement at fair value of hedging
derivatives.

Management Comments

"We are pleased to report excellent results in the first quarter, which show
significant sales and margin growth, in part due to favourable seasonality in
some countries", declared Giovanni Recordati, Chairman and CEO. "For the full
year 2016 we now expect to achieve sales of more than € 1,100 million,
operating income of more than € 310 million and net income of more than € 220
million."

Conference call

Recordati will be hosting aconference call
today 5 May 2016
at 4.00 pm Italian time (3.00 pm London time, 10.00 am New York time). The
dial-in numbers are:

Italy +39 02 8058811, toll free 800 213 858
UK +44 1 212818003, toll free 800 0156384
USA +1 718 7058794, toll free 855 2656959
France +33 170918703
Germany +49 69 255114451

Callers are invited to dial-in 10 minutes before conference time. If
conference operator assistance is required during the connection please digit
* followed by 0 or call +39 02 8061371. A recording of the conference call
will be placed on the website www.recordati.com.

A set of slides which will be referred to during the call will be available on
our website www.recordati.com under Investors/Company Presentations.

Recordati

, established in 1926, is an international pharmaceutical group, listed on the
Italian Stock Exchange (Reuters RECI.MI, Bloomberg REC IM, ISIN IT
0003828271), with a total staff of around 4,000, dedicated to the research,
development, manufacturing and marketing of pharmaceuticals. Headquartered in
Milan, Italy, Recordati has operations in the main European countries, in
Russia, in other Central and Eastern European countries, in Turkey, in North
Africa and in the United States of America. An efficient field force of
medical representatives promotes a wide range of innovative pharmaceuticals,
both proprietary and under license, in a number of therapeutic areas
including a specialized business dedicated to treatments for rare diseases.
Recordati is a partner of choice for new product licenses for its
territories. Recordati is committed to the research and development of new
specialties within the urogenital therapeutic area and of treatments for rare
diseases. Consolidated revenue for 2015 was € 1,047.7 million, operating
income was € 278.5 million and net income was € 198.8 million.

For further information:

Recordati website: www.recordati.com

Investor Relations
Media Relations
Marianne Tatschke
Studio Noris Morano

(39)0248787393
(39)0276004736, (39)0276004745
e-mail:inver@recordati.it
e-mail:norismorano@studionorismorano.com

S
tatements contained in this release, other than historical facts, are
"forward-looking statements" (as such term is defined in the Private
Securities Litigation Reform Act of 1995). These statements are based on
currently available information, on current best estimates, and on
assumptions believed to be reasonable. This information, these estimates and
assumptions may prove to be incomplete or erroneous, and involve numerous
risks and uncertainties, beyond the Company's control. Hence, actual results
may differ materially from those expressed or implied by such forward-looking
statements. All mentions and descriptions of Recordati products are intended
solely as information on the general nature of the company's activities and
are not intended to indicate the advisability of administering any product in
any particular instance.

RECORDATI GROUP

Summary of consolidated results prepared in accordance with the International
Accounting Standards and International Financial Reporting Standards
(IAS/IFRS)
(thousands of €)

---------------------------------------------------------------------------------------
| INCOME STATEMENT First Quarter 2016 First Quarter 2015 Change % |
| REVENUE 302,247 275,746 9.6 |
| Cost of sales (93,701) (88,293) 6.1 |
| GROSS PROFIT 208,546 187,453 11.3 |
| Selling expenses (79,565) (77,978) 2.0 |
| Research and development expenses (22,276) (19,892) 12.0 |
| General&administrative expenses (16,040) (15,351) 4.5 |
| Other income (expenses), net (510) (761) (33.0) |
| OPERATING INCOME 90,155 73,471 22.7 |
| Financial income (expenses), net (2,524) (3,728) (32.3) |
| PRE-TAX INCOME 87,631 69,743 25.6 |
| Provision for income taxes (22,153) (17,775) 24.6 |
| NET INCOME 65,478 51,968 26.0 |
| Attributable to: |
| Equity holders of the parent 65,471 51,964 26.0 |
| Minority interests 7 4 75.0 |
---------------------------------------------------------------------------------------

------------------------------------------------------------------------
| EARNINGS PER SHARE First Quarter 2016 First Quarter 2015 Change % |
| Basic € 0.319 € 0.254 25.6 |
| Diluted € 0.313 € 0.248 26.2 |
------------------------------------------------------------------------
Earnings per share (EPS) are based on average shares outstanding during each
year, 205,253,629 in 2016 and 204,537,493 in 2015, net of average treasury
stock which amounted to 3,871,527 shares in 2016 and to 4,587,663 shares in
2015.

Diluted earnings per share is calculated taking into account stock options
granted to employees.

----------------------------------------------------------------------------
| COMPOSITION OF REVENUE First Quarter 2016 First Quarter 2015 Change % |
| Total revenue 302,247 275,746 9.6 |
| Italy 63,760 61,883 3.0 |
| International 238,487 213,863 11.5 |
----------------------------------------------------------------------------

RECORDATI GROUP

Summary of consolidated results prepared in accordance with the International
Accounting Standards and International Financial Reporting Standards
(IAS/IFRS)
(thousands of €)

--------------------------------------------------------------------------------------
| ASSETS 31.3.2016 31.12.2015 |
| |
| Property, plant and equipment 110,113 108,987 |
| Intangible assets 239,024 246,450 |
| Goodwill 452,339 453,285 |
| Equity investments 29,288 32,444 |
| Non-current receivables 4,460 4,549 |
| Deferred tax assets 30,376 30,500 |
| TOTAL NON-CURRENT ASSETS 865,600 876,215 |
| |
| Inventories 138,627 143,093 |
| Trade receivables 222,498 177,219 |
| Other receivables 24,016 28,883 |
| Other current assets 7,643 5,280 |
| Fair value of hedging derivatives (cash flow hedge) 8,854 12,671 |
| Short-term financial investments, cash and cash equivalents 270,518 225,525 |
| TOTAL CURRENT ASSETS 672,156 592,671 |
| TOTAL ASSETS 1.537,756 1,468,886 |
--------------------------------------------------------------------------------------

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| EQUITY AND LIABILITIES 31.3.2016 31.12.2015 |
| |
| Sha...

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