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Italy's Recordati hikes 2024 guidance after core profit rises 11.5%

Reuters
·1 min read

(Reuters) - Italian drug maker Recordati raised its guidance for 2024 on Tuesday buoyed by positive momentum in its mainline Specialty and Primary Care and Rare Disease segments and an 11.5% rise in first-half core profit.

The Milan-based company raised its earnings before interest, taxes, depreciation and amortization (EBITDA) forecast to between 845 million and 865 million euros ($915-$937 million) from a range of 830-860 million.

It expects a net profit of 560-580 million euros on revenue of between 2.30 billion and 2.34 billion euros.

($1 = 0.9232 euros)

(Reporting by Enrico Sciacovelli; editing Jason Neely)