PHARMACY MARKET
Stevanato Group | November 18, 2021
Stevanato Group, a global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries, today announced the expansion of its corporate headquarters with the construction of a new facility in Piombino Dese, Italy to advance operations and growth of the Company.
The new 6,750 square meter facility is expected to support the optimization of Stevanato Group’s industrial footprint, with about 2,500 square meters dedicated to increasing the production of high-value products. In addition to hosting offices, the Italian analytical services site, and R&D space, it is also expected to include new glass syringe forming lines devoted to boosting the production of EZ-fill® solutions, which are pre-sterilized drug containment solutions that reduce total cost of ownership and time-to-market for pharmaceutical companies.
“We are very proud of the global growth and evolution that Stevanato Group has achieved over the recent years, and we are always exploring new opportunities and ways to meet our customers’ needs. Further increasing our production capabilities here at home through this new space we expect to be able to bridge capacity demands while our exciting projects in the U.S. and China are underway. Importantly, this expansion is further validation of the hard work of our employees, the demand for our innovative products and the continued growth of our business, and we expect it to allow us to be well positioned to build on our current momentum and advance development initiatives that are expected to directly benefit all of our customers and stakeholders around the world.”
Franco Moro, CEO of Stevanato Group
Construction of the new building began in September 2021. The Company expects to install and validate new lines in the second quarter of 2022, and expects industrial production to begin between late second quarter and early third quarter of 2022.
Stevanato Group’s new flagship building represents an important development in its 2020-2023 Industrial Plan, including efforts to meet increasing global demand for premium products. As part of these efforts, the Company recently operationalized two additional lines for EZ-fill® vials and syringes manufacturing in Italy and, in 2022, plans to add two more lines devoted to EZ-fill® syringes as well as one dedicated line for Alba® syringes, the breakthrough solution for biologics. The expansion underway is part of the Company’s expected plans to triple production of EZ-fill® pre-fillable sterile syringes by 2023 and to increase production of EZ-fill® sterile vials and cartridges 19x by 2023, compared to 2016 numbers.
Stevanato Group’s new building also marks the Company’s ongoing dedication to and investment in the local Piombino Dese community, where it has been headquartered for more than 60 years. The new building is expected to act as the counterpart to another facility at the Piombino Dese headquarters, recently completed in 2020, also used for the production of syringes and that hosts solar electric panels. These panels produce 160kWp of electricity per year and are intended to provide electricity to both buildings, as Stevanato Group remains committed to sustainability. To that end, the new building is also intended to have a partial recovery system enabling it to reuse water used for washing in production.
About Stevanato Group
Founded in 1949, Stevanato Group is a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. The Group delivers an integrated, end-to-end portfolio of products, processes and services that address customer needs across the entire drug life cycle at each of the development, clinical and commercial stages. Stevanato Group’s core capabilities in scientific research and development, its commitment to technical innovation and its engineering excellence are central to its ability to offer value added solutions to clients.
Forward-Looking Statements
This press release may include forward-looking statements. The words "expected", "expects", “intended”, "plans" and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the size and use of the plant, the construction and timing of its plant, impact of the plant of the Company’s business and results of operations and the nature of the plant once complete. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.
Read More
FiercePharma | September 13, 2019
As drugmakers dip their toes into the water of cannabis-based drugs, major companies have so far mostly shied away from diving in. Now, a Teva subsidiary is looking for the on-ramp with a distribution deal with an Israeli medical cannabis company. Israeli subsidiary Salomon, Levin, Elstein (SLE) inked a deal with Canndoc, a publicly traded producer of GMP cannabis products, to distribute to Israeli hospitals, health maintenance organizations and all pharmacies, Canndoc said in a release. SLE will also provide logistical support to distribute Canndoc’s products abroad to countries that support the sale and distribution of medical cannabis. "The agreement brings together our well-established pharmaceutical distribution network with Canndoc's high quality medical cannabis industry presence and market leadership," SLE CEO Aviad Bossi said in a statement. "Beyond the operations in Israel, this agreement will provide Canndoc significant logistical capabilities that can support Canndoc's exporting operations from Israel."
Read More
Pharmaphorum | June 14, 2019
Teva has expanded a recall of losartan potassium tablets after tests revealed a potential human carcinogen in the blood pressure drug. The Israeli pharma earlier this week recalled six lots of the drug containing unacceptable levels of a nitrosamine impurity. This builds on a decision in April when Teva withdrew 35 lots after detecting the same impurity known as NMBA (N-Nitroso-N-methyl-4-aminobutyric acid). According to a recall notice shared by the FDA, Teva had sold bulk lots of the drug to California-based Golden State Medical Supply. The bottles were in sizes containing 30, 90 or 100 tablets. People affected by the recall should continue taking their drugs and ask a doctor or pharmacist about alternatives or replacements, the FDA said. This is because stopping the medication without replacement could cause more harm than continuing with the treatment course. Teva needs to maximise its revenues to pay off huge debts it incurred when it acquired Allergan’s generics business in 2016 for $40.5 billion. The company posted a loss for the first quarter of the year of $97 million, compared with a $1.1 billion profit in the first quarter of 2018.
Read More