History
Established in 1935, Chiesi concentrates primarily on developing respiratory, neonatological and rare disease drugs, along with those for treating muscular and skeletal conditions.
Historical therapeutic solutions are a cortisone preparation indicated for asthma, allergic rhinitis and airway inflammation, launched in 1979,[8] and a surfactant life-saving treatment for premature babies, developed by two researchers at Karolinska Institutet, Tore Curstedt and Bengt Robertson.[9]
In the rare disease area, a treatment for moderate to severe limbal stem cell deficiency (LSCD), developed by the researchers Michele De Luca and Graziella Pellegrini, was the first stem cell therapy to be approved in Europe.[10] As well as developing drugs in-house, Chiesi has a policy of developing drugs in collaboration with pharmaceutical businesses outside Italy.
Chiesi's operations regarding neonatological drugs have come under criticism for patenting drugs that Chiesi has not been instrumental in developing. Because of this behavior, some of Europe's neonatology wards have experienced economic hardships.[11]
The company holds over 4,000 international patents for more than 200 patent families and employs approximately 944 people dedicated to Research and Development activities, including regulatory in the R&D centers in Parma (Italy), France, United Kingdom, Sweden, USA, Canada and China.
2010 was the year in which turnover broke through the Billion Euro barrier, with Chiesi recording sales growth of 16.4% over the figure for 2009. By 2013 turnover had reached €1,236, with increases coming primarily from outside the Italian home market.[12] Chiesi Farmaceutici closes 2016 on a high with an annual turnover of €1.571 million, an increase of more than +7.0% on the previous year (+9.6% at constant exchange rates), and EBITDA equal to €448 million (a year-on-year increase of over 8.2%). The robust health of the company is reflected by its investment in innovation and development, with R&D expenditure rising by over +12.5% in the 2015–2016 period to reach €370 m in 2019, 19% of total sales. The Group currently has 49 active studies in research and development.[4] In 2020 the Chiesi Group reached and exceeded a turnover of 2 billion Euro.
In 2022, the Group recorded a turnover of €2 billion 749 million, an increase of 13.6% compared to 2021. Gross Operating Profit (EBITDA) grew by 7%.
In 2023, the Group recorded a turnover of €3 billion, an increase of 10% compared to 2022. Gross Operating Profit (EBITDA) grew by 30%
In 2022, Chiesi celebrated the start of construction of the new “Biotech Center of Excellence”, located next to the Group’s current Italian production site in Parma. The new R&D and production hub will be operational in 2024, thanks to an investment of 85 million euros, which will allow Chiesi to consolidate its know-how in the field of biotechnology products. The new Centre will embrace the whole end-to-end supply chain, with the first products expected to enter the market in 2025. In line with Chiesi's commitment as a B Corp, the Centre will be built sustainably and in compliance with LEED criteria.[13]
