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Chiesi Farmaceutici Establishes Russian Affiliate and Forms a Joint Venture in The Netherlands
Italy – Feb. 27, 2006 - Chiesi Farmaceutici S.p.A. announced today the opening of Chiesi Pharmaceuticals LLC, its new affiliate headquartered in Moscow, and the formation of a joint venture in The Netherlands. Both of these entities will focus on the promotion and distribution of Chiesi’s respiratory products as well as on other registered therapeutic areas.
Chiesi’s direct expansion into Russia follows the registration and availability of five products which include Vasobral™, Beclojet™ and Curosurf™. "The Russian market has seen an increase in interest in innovative drugs and Chiesi’s innovative R&D pipeline of respiratory products should offer some important synergies in the development of the company" stated Irina Moroz, General Manager of Chiesi Russia.
The joint venture with All Gen Pharmaceutical & Generics B. V. was formed to promote Chiesi’s Modulite® platform of ozone friendly HFA respiratory products, already including Beclometasone, Budesonide and Formoterol, offering the advantage of a solution formulation with uniformity of the delivered dose and fine particle distribution of the inhalation cloud.
Alberto Chiesi, President and CEO of the Chiesi Group, stated: "The establishment of the new affiliate in Russia and the joint venture in The Netherlands represent an important step in the process of further internationalization of our company, enabling us to commercialize directly our products in Europe in an integrated and global way, and enhancing our ability to co-operate with new strategic partners".
Chiesi Farmaceutici is a European pharmaceutical group, which is headquartered in Parma, Italy and had an estimated turnover of 565 million Euros in 2005. Chiesi has marketing and sales organizations in all major European markets and product distribution in over 40 countries.
The Group employs more than 2700 people worldwide including approximately 300 scientists in R&D in Italy, France and the US. Chiesi develops innovative products focused on the management of asthma and COPD.
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