From Padua to Wall Street, Stevanato has become a pharmaceutical giant
The last quarter closed with 238 million in revenues, up 12% on the previous year. Not news for Stevanato Group, Italian multinational pharmaceutical company, listed on the New York Stock Exchange since 2021, used to ringing positive balance sheets and double-digit increases. For this year it aims at 1 billion and 100 million. In 2019 it had a turnover of 570 million. Last year it made the coupon to the billion. A vertical growth for this company, born in 1949 as a glass blower, producing bottles and vials for the cosmetic industry, and with its headquarters in Piombino Dese in the province of Padua.
“In 2012 we began to think about how to lead a company like ours into the future, which has a good product, maximizing growth assets in its reference sector – explains Franco Stevanato, executive chairman, which represents the third generation at the helm of the company -. We have pushed ahead with our vision, choosing to focus on injectable products and have increased the portfolio. Afterwards we said to ourselves: the customer is global, the market is growing and we too must be global. Thus we began international development, the path that led us to listing. Finally, we started from the consideration that we needed a very driven part of research and development, which must feed not only the development of the process, but above all of the product and what the patient wants”.
Investments
The result today is a company which is the world‘s second largest producer of glass bottles and not only. Which has three production plants (the historic one in Piombino Dese, in the Padua area, has been joined by those in Cisterna di Latina and Fishers, in Indiana, United States, which will start operating in 2024). And aiming for the fourth in China in the Zhangjiagang area, a hundred kilometers from Shanghai, by 2025. A continuous investment roster of 350/400 million a year, thanks to the driving force of the quotation and without resorting to debt.
“The investments are all dedicated to growing and completing our production capacities in all regions of the world in high-end products – the managing director of the Franco Moro group intervenes -. Also, every investment it was meant to be developed in stages. For example, in Fisher the initial spending idea of 150 million has been exceeded and in 2027 there will be a dedicated 500 million, which will gradually progress line after line”.
The vision is clear: to make Stevanato a complete partner for pharmaceutical companies. Rooting itself where the pharmaceutical companies are. In order to be competitive in logistics and the quality of the product supplied. “The competition in the sector is high, but we are raising the barriers a lot – assures the president -. On the one hand with our patents and our know-how. On the other, considering the investments made, very high, and a validation of the processes for which it takes years. There is competition, yes, but we start from an advantageous position”.