Menarini, investment in Italy of 150 million for a new factory

A patriotic and intelligent choice, but also a shot of responsibility in light of the needs of the country, to start again. This was explained by the top of Menarini, Eric Cornut, president of the Group and Lucia Aleotti shareholder and board member immediately after the announcement of a new 40,000 square meter production center in Sesto Fiorentino, conceived in the midst of the crisis for the pandemic. An investment of 150 million euros for over 250 jobs and as many in related industries. In this period of insecurity, the first Italian pharmaceutical company – Cornut said – in a couple of weeks announced the attempt to purchase an oncology company in the United States and, just two weeks later, the decision, which I find patriotic and intelligent , to build a company in Italy taking into account all the lessons that came to us on the need to guarantee the security of the supply of medicines. This demonstrates Menarini’s strength, the courage of the shareholders, the effectiveness of governance with the arrival of the new CEO who has made it possible to manage a plurality of projects simultaneously. A memorandum of understanding between the Region, Municipality, Metropolitan City and company has also been approved. The project assumes strategic importance both for the recovery of an industrial area that has been standing still for some time, both for the type of activity and innovation, and for the employment effects and opportunities for Tuscan SMEs, commented the President of the Tuscany Region, Enrico Rossi.

The production capacity

The new plant will have an annual production capacity of about 100 million packs equal to about 3 billion tablets with a very advanced industrial layout. Making such a significant and important investment for Tuscany as what Menarini intends to make was not a foregone conclusion these days, explained President Rossi. The agreement, the Region of Tuscany further underlined, starts a public-private path and in this regard a permanent table is set up which will coordinate all the environmental, urban and infrastructural aspects related to the construction of the plant. In this bad period, with a sense of oppression and anguish for Italy – added Lucia Aleotti – as the world stopped, we understood what would happen, even an economic disaster. So we felt an electric discharge around us that led us to the awareness that a shot of responsibility and affection towards Italy was needed, also in light of the many supply crises from abroad, of goods (like masks but fortunately not drugs) that was blocked at customs. thus was born the desire to do something more.

The bills

The group also announced the turnover on the same day. Menarini closed 2019 with a turnover of almost 3.8 billion euros (3,793 million), an increase of 3.2% compared to 2018, and an EBITDA of 492 million. Growth was driven by international markets despite the patent expiration of Adenuric (febuxostat), a drug for hyperuricemia. The year that ended – commented President Eric Cornut – was obviously not affected by the Covid crisis, and saw Menarini increase its presence abroad and strengthen governance with the appointment of the Group’s CEO, Elcin Barker Ergun. Today the international turnover 77% of the total thanks to the dedication and commitment of our employees who – he concluded – bring the quality of Menarini drugs to the world.