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2022 for Chiesi: The Group’s international growth continues

Date: 11/04/2023
  • Turnover at €2 billion 749 million, with growth of 13.6% over 2021
  • The European market remains at the center, with significant international development
  • The distribution of turnover by therapeutic area is as follows: Air (respiratory diseases) 73%, Rare (rare and ultra-rare diseases) 12% and Care (special care & consumer healthcare) 15%
  • In 2022, Chiesi invested 21.4% of its turnover in Research & Development
  • The total number of employees rises to more than 6,500 people, 55% women and 45% men
  • The Group now has 31 Affiliates worldwide, with the recent opening of Chiesi Japan

CARY, N.C., April 11, 2023 (GLOBE NEWSWIRE) -- The growth of Chiesi, a research-oriented international biopharmaceutical group headquartered in Parma (Italy) and 31 Affiliates worldwide, continues.

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%. The company also showed a solid positive net financial position of €1,390 million and an increase of €342 million compared to the previous year.

The European continent remains the main market, with important growth in the US, China and Brazil.

The treatment of respiratory diseases continues its growth trend, absorbing more than 70% of turnover, lined by a strong performance of the Global Rare Diseases Business Unit, dedicated to the marketing of products for rare and ultra-rare diseases, which recorded revenues of €332 million and a growth of more than 18% over 2021.

Commenting on the 2022 performance is Giuseppe Accogli, the new CEO of the Chiesi Group since April 3:

“The strong 2022 financial results are the concrete evidence of the Group’s work in creating shared value for people, the community, and the environment. The company has grown in terms of turnover, volumes, and people, achieving important strategic objectives, and continuing on its path to revolutionize the way the biopharmaceutical industry understands innovation. As a biopharmaceutical company, a Benefit Corporation, and a certified B Corp, Chiesi is driven by the desire to improve the quality of life for patients and their families. We believe that the concept of care must be extended beyond the production of drugs, considering the social impact of our decisions. We do this by providing innovative, sustainable, and accessible therapeutic solutions and by working to improve the economic and social conditions of the communities in which we operate. People are at the center, we consider essential to ensure an inclusive working environment, where everyone feels comfortable and can express their talents. These are the pillars on which Chiesi is built today, and among the main reasons why I accepted the important task of leading the company in the years to come. I believe that the excellent performance recorded in 2022 has been possible thanks to the commitment of all the people who make up the Group globally and who work every day with passion and dedication. A commitment that I share, together with the Chiesi family, and that will drive us into the next stages of international growth.”

Jon Zwinski, General Manager and CEO of Chiesi USA, the U.S. affiliate of Chiesi Group, added:

“2022 proved to be a fantastic year for the growing Chiesi network around the world, and Chiesi USA is proud to have contributed to that success. Our strong financial performance is a testament to our commitment to our people, patients, and our customers. We also celebrate continued recognition of our internal culture and innovation through certifications from the Top Employers Institute and Great Place to Work®, as well as being named among Fortune’s 25 Best Small and Medium Workplaces in Biotechnology and Pharmaceuticals. In 2023, we are committed to furthering the growth of Chiesi Group and deepening our investments in therapeutic and local community partners.”

Research and Innovation for a Sustainable Future
In 2022, the main investments focused on industrial development and increasing the R&D portfolio.

R&D investments in 2022 reached 21.4% of the Group’s turnover. An increase compared to the previous year driven by phase III clinical development activities and confirmed by 42 new patents registered at the European Patent Office (EPO) in 2022, confirming Chiesi as the first Italian pharmaceutical company and third among Italian companies in all sectors in terms of patent applications.

Going into the details of the research projects, the partnership with Allinaire Therapeutics continues on the monoclonal antibody program as a potential treatment of pulmonary arterial hypertension, and collaboration has started with Aptar Digital Health to create a digital platform for the management of respiratory diseases including asthma and COPD. Furthermore, the strategic partnership continues with Kaia Health, a leading digital therapy company, for the marketing of the Kaia COPD app for pulmonary rehabilitation in Europe. Kaia COPD has been listed in the German DiGA directory as a digital health application.

Construction work has begun on the Biotech Center of Excellence, the new hub for the development of biological products that is being built on the site of the Group’s main production plant in Parma, for a total investment of €85 million.

Lastly, in the area of rare diseases, Chiesi and Amryt Pharma Plc (Nasdaq: AMYT), a global biopharmaceutical company dedicated to the acquisition, development and marketing of novel treatments for rare diseases, announced that they have entered into a definitive agreement for Chiesi’s acquisition of Amryt.

Shared Value and B Corp Recertification
Sustainability is an increasingly important goal for the company, which translates into the concept of creating shared value for people, the community and the environment, a crucial element of the Group’s plans and strategic vision.

In this regard, Chiesi - a Benefit Corporation in Italy (Società Benefit), the United States and France (Société à Mission) - achieved B Corp™ recertification in July 2022, receiving a score of 103.8 from B Lab™, an international nonprofit organization, an increase of 16.3 points compared to its first certification in 2019. The recertification was obtained for the whole Group, involving all Affiliates in the review and assessment process.

In addition to highlighting the main achievements in terms of social and environmental impact, the recertification process brought to the company’s attention a series of improvements to be made in the coming years. In fact, this milestone represents a new starting point for the definition of a three-year improvement plan, to be ready for recertification in 2025.

B Corp certified companies work according to a long-term vision, assessing all future challenges and opportunities, taking responsibility for the impact of their choices. Furthermore, they are committed to bringing benefits not only to shareholders, but to all stakeholders: employees, customers, the community and the environment.

People are at the heart of everything Chiesi does: patients, employees, communities. Today, the Group employs more than 6,500 people globally, has 31 Affiliates - after the recent opening of Chiesi Japan - seven research centers in Italy, France, the U.S., Canada, China, the UK and Sweden, three production centers in Italy, France and Brazil, and a commercial presence in more than 100 countries worldwide.

The Group received the “Best Workplaces 2022” award from Great Place to Work®, proof that the actions taken by the company are correctly perceived and are leading in the right direction. In addition, the company received again Top Employer certification in Italy, Germany, the UK, Greece and Poland – confirming its position as one of the Top Employer companies in Europe for the 11th consecutive year – as well as Brazil, the U.S. and Pakistan.

Gender equality is confirmed as one of its main objectives, with women accounting for 55% of employees, a percentage that increases in the R&D area, where it is over 60%.

Indeed, 2022 was also the year in which Bureau Veritas awarded Chiesi Farmaceutici S.p.A. and Chiesi Italia S.p.A. the Gender Equality Certification and recognized its achievement of the “zero gender pay gap,” including equal pay for men and women with the same level and job description. This accomplishment is the result of pay analyses and reviews, based on a specific method (technical algorithm), certified and implemented by a third party, which compares pay by gender for the same position and conditions.

Forecasts 2023
A positive start of the year for Chiesi, with sales volumes above outlooks. The Group expects to reach and exceed its budget targets and, also thanks to the integration of Amryt Pharma, is aiming for further growth in 2023.

About Chiesi USA
Chiesi USA, Inc., headquartered in Cary, North Carolina, is a specialty pharmaceutical company focused on commercialization of products for the hospital and target office-based specialties. The Company is a wholly-owned subsidiary of family-owned Chiesi Farmaceutici S.p.A, a global R&D-focused pharmaceutical company based in Parma, Italy. In the United States, the Company delivers therapies and enhances care for patients in the areas of acute cardiology, neonatology, cystic fibrosis and rare diseases. Recognized as a Certified B Corporation™, Chiesi is dedicated to improving the health and well-being of its communities through its employee-led corporate social responsibility program, Chiesi in the Community. Innovation, collaboration and impact are the cornerstones of the Chiesi culture. For more information, visit www.chiesiusa.com.

About Chiesi Group
Chiesi is an international, research-focused biopharmaceuticals group that develops and markets innovative therapeutic solutions in respiratory health, rare diseases, and specialty care. The company’s mission is to improve people’s quality of life and act responsibly towards both the community and the environment. By changing its legal status to a Benefit Corporation in Italy, the U.S. and France, Chiesi’s commitment to create shared value for society as a whole is legally binding and central to company-wide decision-making. As a certified B Corp since 2019, we’re part of a global community of businesses that meet high standards of social and environmental impact. The company aims to reach Net-Zero greenhouse gases (GHG) emissions by 2035. With over 85 years of experience, Chiesi is headquartered in Parma (Italy), operates in 31 countries, and counts more than 6,500 employees. The Group’s research and development center in Parma works alongside six other important R&D hubs in France, the U.S., Canada, China, the UK and Sweden.

For further information please visit www.chiesi.com.


Media: FleishmanHillard, Elizabeth Comtois, (973) 600-1170, elizabeth.comtois@fleishman.com
Chiesi USA: Neha Suryavanshi, (919) 678 6611 x1533, neha.suryavanshi@chiesi.com
Chiesi Group: Alessio Pappagallo, Press Office Manager, +39 339 5897483, a.pappagallo@chiesi.com

PP-G-1172 V1.0

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