Respighi BidCo raises offer for Recordati to approximately $11.8B

Recordati, the Italian drugmaker serving patients with common and rare diseases, faces a revised cash takeover offer worth approximately $11.8 billion at full acceptance. Respighi BidCo, the acquisition vehicle formed by CVC Fund IX and Groupe Bruxelles Lambert, raised its price to about $59.4 a share from roughly $57.5, Teleborsa reported. Figures are in US dollars, converted at October 5 reference rates.

The bidder called the new price final and extended the shareholder tender deadline from October 15 to October 23, with payment scheduled for November 2. The transaction is intended to remove Recordati from Euronext Milan. Rossini, which held 46.82% of Recordati when the transaction was announced in May, committed its shares to the offer.

Recordati isn’t a one-product biotech. Its larger specialty and primary-care arm sells prescription and self-medication treatments for cardiovascular, urological, gastrointestinal, and cough-and-cold conditions. The company says more than 100 million people benefited from that portfolio in 2025. Its separate rare-disease unit develops and markets medicines for metabolic disorders, endocrinology and hematology-oncology.

The operating chain also extends beyond selling finished medicines. Recordati develops treatments internally and through agreements, manufactures drugs and active pharmaceutical ingredients, and commercializes products directly or through licensees. Its rare-disease distribution center near Paris handles more than 27,000 orders annually for more than 60 countries, while two chemical plants sell spare ingredient-making capacity to other drugmakers.

The smaller rare-disease segment has been growing much faster. Recordati says it generated 41.3% of 2025 pharmaceutical revenue and grew 29.7% that year, while specialty and primary care contributed 58.7% and grew 2.0%. Respighi BidCo is bidding for a mature common-disease portfolio alongside a smaller business that recently supplied most of the company’s pharmaceutical growth.