Chiesi Farmaceutici Announces New Mexico Affiliate

Oct 25, 2012, 05:00 ET from Chiesi Farmaceutici S.p.A.

PARMA, Italy, October 25, 2012 /PRNewswire/ --

 The Italian Group, which generates 72% of its turnover outside Italy, continues with its internationalisation strategy in Latin America

Chiesi Farmaceutici S.p.A., a multinational pharma group based in Parma, Italy, has recently opened its 25th affiliate, Chiesi Mexico, representing a milestone in the company's internationalisation plan, which began in 1978.

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Directed by Manuel Cosme Odabachian, the Mexican affiliate will firstly focus on the Special Care sector with its natural surfactant for neonate respiratory distress syndrome, and then extend commercial activities to drugs for respiratory diseases.

"Mexico," underlines Alberto Chiesi, Chiesi Group President, "is the second most important pharmaceutical market in Latin America, and has grown considerably in recent years. This, combined with national healthcare policies designed to provide for almost the entire population, has prompted us to invest in this country. As a company firmly rooted in Italy, we regret the fact that our country cannot boast the same prospects. Yet recent governmental decisions regarding prices encourage pharma investors to look elsewhere."

According to CEO Ugo Di Francesco, "Mexico is a key element in the development strategy adopted by the Group for the next few years. Our therapeutic range, based on a combination of specialist drugs and widely-distributed products, aims to respond to the needs of a large country which is continually improving healthcare for its citizens."

Last year Chiesi Group consolidated sales, 72% of which was generated outside the domestic market, reached 1,057 million Euro (+4.1% on 2010). R&D investments in 2011 totalled 170 million Euro, around 16% of sales, placing Chiesi top among Italian pharma companies and 13th among European pharmaceutical companies for R&D investment (EU Industrial R&D Investment Scoreboard).

Further growth is planned for 2012 to exceed sales of 1,100 million Euro and ensure R&D investment levels are maintained at over 180 million Euro.

"The Chiesi Group's particular focus," highlights Paolo Chiesi, Vice President and R&D Director, "has always been Research and Development and this will continue to be crucial to our growth plan. We are satisfied with the results for 2011, especially at a time when all markets are experiencing significant difficulty, including Europe, which is close to stagnation. Despite this difficulty, we intend to continue investing in innovation, as we believe this is the only way to sustain growth."

SOURCE Chiesi Farmaceutici S.p.A.