Seelos Therapeutics Inc (SEEL)

[tradero]

More about Recordati... Hope this has not been posted

http://www.thepharmaletter.com/article/recordati-posts-sales-growth-and-significant-margin-improvement-in-1st-qtr-2014

Business development news

In February, an exclusive license agreement was entered into with USA-based Apricus Biosciences for the marketing and sales of Vitaros (alprostadil), an innovative topical product for the treatment of erectile dysfunction, in certain Western European countries including, among others, Spain, European Union member countries in Central and Eastern Europe, Russia, Ukraine and the Commonwealth of Independent States (CIS), Turkey and certain African countries. Vitaros is approved for the treatment of erectile dysfunction by a number of European health authorities and by Health Canada.

“The first quarter results are particularly positive; the consolidation of the new companies acquired at the end of 2013 and the performance of our product portfolio have allowed us to further improve our profitability,” commented Giovanni Recordati, chairman and chief executive, adding: “For the full year 2014 we confirm our expectations to achieve operating income of more than 220 million euros and net income of more than 150 million euros thanks to margin improvement. Revenues, as of today, are expected to be slightly below 1,000 million euros due to a significant negative currency effect.”