Menarini reports 2019 sales rose 3.2%; plans $169 million plant

Italian pharmaceutical and diagnostics company Menarini has announced its 2019 results, showing that turnover reached 3.79 billion euros ($4.17 billion), with an increase of 3.2% compared to2018, and earnings before interest, taxes, depreciation and amortization (EBITDA) was 492 million euros.

Growth was mainly driven by international markets despite the patent expiration of Adenuric (febuxostat), a drug for hyperuricemia, the family-controlled company noted. The year that ended was obviously not affected by the COVID-19 crisis and saw Menarini increase its presence abroad with international turnover reaching 77% of the global total.

Elcin Barker Ergun, chief executive of the Menarini Group, commented: "2019 was another year of solid operating performance for Menarini with continued top-line growth despite a major patent loss. In line with continued strong growth of our most important products, we have just announced a major new manufacturing site investment in Florence to significantly increase our oral blisters capacity. Looking ahead, we remain focused on our strategic priorities in primary and specialty care to serve millions of patients around the world. The acquisition of Stemline, a New York-based US biopharmaceutical company, which we have just completed is a key move in line with our strategy providing us an excellent foundation to tap into the world's largest pharmaceutical market and greatly enhancing our innovation power."