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In 2023, Chiesi reached over €3 billion in sales – a 10% growth (+12% @CER) on the previous year – maintaining an EBIDTA of approximately 30% for the fourth consecutive year.
In 2023, the Company reinforced its strong momentum across geographies and business areas. At constant exchange rates (@CER), growth was observed in all three of the Group’s business areas (AIR - respiratory diseases, RARE - rare and ultra-rare diseases, and CARE - specialty care, neonatology and consumer healthcare) and across all its Regions (US grew at 25%, Europe at 7% and China and International at 22%).
The focus on innovation continues to be central in the growth of Chiesi Group. R&D investments reached almost 24% of total sales in the year, fuelling both the internal pipeline and accelerating external collaborations.
Highlights from the therapeutic areas
AIR
AIR Franchise encompasses products and services for the treatment of respiratory diseases. It is the largest franchise, representing more than 56% of sales and growing 6% @CER.
Chiesi’s fixed triple formulation for the treatment of asthma and COPD (Chronic Obstructive Pulmonary Disease) achieved a 27% @CER growth. Also, in 2023 it was introduced in China, presenting a pivotal opportunity for growth and expanding access to treatment for more patients.
In March 2023, Chiesi enriched its AIR portfolio thanks to the partnership with Affibody AB to develop and commercialize innovative treatments for respiratory diseases. In November 2023, Chiesi signed a License Agreement with Haisco Pharmaceutical to develop, manufacture, and commercialise a novel solution for bronchiectasis.
RARE
The RARE Diseases Business Unit, the latest addition to Chiesi’s portfolio, is dedicated to providing advanced treatments for individuals living with rare or ultra-rare genetic diseases. It achieved over €500 million in sales propelled by strong organic expansion and the strategic acquisition of Amryt Pharma Plc in April 2023. This landmark achievement marked a significant milestone in the Company’s pursuit of inorganic growth during a record year for investments, further broadening the spectrum of rare disease areas served and extending our impact to more patients in need.
In February 2023, FDA approved the first pharmacological therapy for the treatment of non-central nervous system manifestations of Alpha-Mannosidosis – an ultra-rare progressive disease with wide range of symptoms - in adult and paediatric patients. In 2023, Chiesi’s enzyme replacement therapy indicated for the treatment of adults with confirmed Fabry disease was approved in Europe, the US, and the UK. In December 2023, a topical gel for the treatment of Epidermolysis Bullosa – already available in Europe and in the UK - also received FDA approval.
CARE
CARE Franchise (specialty care, neonatology, and consumer healthcare) continued to grow consistently across Chiesi Regions, with sales up 2% @CER. Chiesi’s natural surfactant, employed in treating premature newborns with RDS (Respiratory Distress Syndrome), continued to excel, demonstrating a 6% @CER growth and reaffirming its role as an effective solution for the premature infants. At the end of 2023, Chiesi and Oak Hill Bio achieved an agreement to develop, manufacture, and commercialise an investigational drug candidate tailored to address the complications of extremely premature birth. This milestone underscores the Company unwavering commitment to advancing innovative solutions and improving outcomes for the most vulnerable newborns.
The Company consolidated the growth of critical care portfolio, with a 22% @CER increase (especially in the US, where it was driven by two cardiovascular products designed for acute hospital setting).