Wednesday, September 09, 2015

Italian Chiesi wants to double in size in Brazil until 2020

Until 2020, the Italian laboratory Chiesi plans to double the size of the Brazilian operation, which last year earned net revenue of R $ 215 million. To achieve this goal, in addition to organic growth, acquisitions, partnerships and assesses pharmaceutical licensing or other inorganic expansion opportunities that prove attractive. "We're looking at active. There are several fronts, but we still don't have anything on the table, "said the value of the General Manager of Chiesi in Brazil, José Fernando Almeida.
At this point, the pharmacist is investing R $ 21 million in own resources, to expand and modernize its plant in Santana de Parnaíba in the State of São Paulo, which today is able to produce 13 million units (cartons) per year of liquid, solid and aerosol medications. In this first stage of expansion, whose works must occur in the next six months, will be added at least 4 million units to the installed capacity, with a focus on liquid line.
According to Almeida, pharmaceutical strategy, which has factories in Brazil, in France and in Italy, where it is also the headquarters, is to transform the Brazilian unit in a polo Wajed export, given the global demand for medicine used in the treatment of asthma.
"We will be the global suppliers of Wajed for Chiesi," he explained. As the deployment plan, pharmaceutical exports from Brazil, today bound for only the United Kingdom and Italy, will arrive to 26 countries in Europe, Africa and Asia. Last year, 25% of local production was shipped. In 2020, this slice should reach 40%.
In two years, company plans to enter the market for treatment of rare diseases, launching new drugs
The largest share of exports will magnify the natural protection (hedge) the Brazilian operation facing the devaluation of the real. Today, about 95% of the pharmaceutical are imported and the laboratories have undergone significant pressure from the strengthening of the dollar. With the ongoing investment, the prediction is that at the beginning of 2017 already look forward to a pharmaceutical "large volume" exported.
"But we will grow also in domestic sales," said the Executive. The two main areas of activity of the respiratory and neonatal are pharmaceutical, however until 2020 plans include the expansion of the portfolio of OTC drugs (non-prescription) and institutional (hospital). In addition, in two years, Chiesi intends to enter the market for treatment of rare diseases with the launch of new drugs. "We have been talking with Anvisa (national health surveillance Agency) on one of these medications," he said.
With 80 years of history, Chiesi is present in the Brazilian market for almost 40 years. First pharmaceutical affiliate outside of Italy, the local operation is now the seventh in terms of revenue. Until 2020, but the goal is to achieve the fourth or fifth position.
Overall, the lab made 1.3 billion euros in 2014, up 8.4% compared to the previous year, while earnings before interest, taxes, depreciation and amortization (Ebitda) reached 363 million, or 27.1% of net revenues. Investments in research and development totaled 237 million euros, however the Chiesi applied other 89 million for the purchase of the total capital of Chiesi USES.
The Brazilian operation, according to Almeida, reports on emerging countries and, along with Russia and Turkey, in Executive assessment, correspond to the currently biggest challenges this group. For 2015, the expectation for the business in the country is the 12% growth, in line with the forecast of IMS Health. "This challenging phase will pass. You need to be able to seize the moment when the scenario better, "he pondered.
Valor Economico
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