FLORENCE, Italy, June 10, 2020 /PRNewswire/ -- Menarini Group, a privately held Italian pharmaceutical and diagnostics company, announced its 2019 results.
Turnover reaches nearly € 3.8 billion (€3,793 million), with an increase of 3.2% compared to2018, and EBITDA of €492 million. Growth was mainly driven by international markets despite the patent expiration of Adenuric (febuxostat), a drug for hyperuricemia. The year that ended was obviously not affected by the COVID-19 crisis and saw Menarini increase its presence abroad with international turnover reaching 77% of the global total.
Elcin Barker Ergun, CEO of Menarini Group, commented, "2019 was another year of solid operating performance for Menarini with continued top-line growth despite a major patent loss. In line with continued strong growth of our most important products, we have just announced a major new manufacturing site investment in Florence to significantly increase our oral blisters capacity. Looking ahead, we remain focused on our strategic priorities in primary and specialty care to serve millions of patients around the world. The acquisition of Stemline, a New York-based US biopharmaceutical company, which we have just completed is a key move in line with our strategy providing us an excellent foundation to tap into the world's largest pharmaceutical market and greatly enhancing our innovation power."
The Menarini Group is a leading international pharmaceutical company with a presence in over 100 countries, including a direct presence in over 70 countries. Its global platform extends throughout Europe, Central America, Africa, the Middle East and Asia and generates nearly over €3.8 billion in annual sales. For over 125 years, Menarini has been investing in the development and commercial distribution of pharmaceuticals to serve patients and physicians around the world with a full portfolio of products in the cardiovascular, gastroenterology, metabolic, infectious diseases and anti-inflammatory/analgesic therapeutic areas. Menarini is also committed to oncology, with several new investigational drugs in development for the treatment of a variety of tumors.