10 jun 2020
Menarini Group Completes a Solid Year of Operating Performance
- Turnover reaches €3,793 million, with an increase of 3.2% compared to 2018 and EBITDA of €492 million thanks to continued strong performance of its most important products.
- €150 million investment into new plant in Italy significantly increasing oral blister capacity in line with increased demand.
- Completion of Stemline acquisition, a US based biopharmaceutical company, marks Menarini Group’s pivotal entry into the world’s largest pharma market.
FLORENCE – June 10, 2020 – 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.”