The Chiesi Group invests $ 70 million and land in the U.S. 8/5/2009 , Chiesi
Release Date: 2009-05-08
The Chiesi Group has completed an agreement with a U.S. pharmaceutical company, through which it will initiate its own commercial presence in the U.S. market, where the Italian company was already present with a clinical research company based in Rockville (Maryland).
The agreement with Cornerstone Therapeutics provides an outlay of about $ 70 million to acquire 51% of the American company based in Cary (North Carolina). This is a company focused on pharmaceutical acquisition, development and marketing of prescription drugs to the respiratory therapeutic area.
The company, which in 2008 had turnover of 64.9 million dollars with an increase of 131% compared to 2007, now supports non-proprietary medicines in the United States, with its network of physicians specialized in respiratory diseases. In 2008, the company has invested about 3.8 million dollars in R & D, it has a pipeline of molecules in advanced clinical stage, through which they plan to submit some new products over the next three years.
"The possibility of re-Chiesi sales of Curosurf in the United States, along the opportunity to acquire the control of Cornerstone, allow us to give birth in the coming months a new subsidiary in the U.S., by far the largest and most advanced pharmaceutical market in the world, "commented Alberto Chiesi, President and CEO of the Group. The availability of a sound commercial basis in this country will, in future, realize synergies and new sales outlets for some of our projects under development. "
| Type: | NORMAL |
| Company: | Chiesi |
| Country: | Italy |