Chiesi Group's headquarters in Parma, Italy.[Photo/China Daily]
Taking research and development as its cornerstone and focusing on innovation, Chiesi Group, an Italy-headquartered biopharmaceutical multinational company with nearly 90 years of history, has been dedicated to practicing a sustainable development strategy and made great strides in its sustainability initiatives, contributing to the prosperity of Sino-Italian medical health and broader exchanges.
In 2023, Chiesi group's revenue exceeded 3 billion euros ($3.24 billion), representing a 10 percent increase from 2022, with earnings before interest, taxes and amortization approaching 30 percent for the fourth consecutive year.
China Marco Polo Project
Chiesi has been growing in the Chinese market for over 15 years, with a major focus in Air (respiratory health), Care (specialty care) and plans to introduce Rare (rare diseases) products to China. As early as October 2022, it launched the Chiesi China Marco Polo Project to speed up the introduction of innovative drugs to the Chinese market; enhance exchanges between experts from China, Italy and the rest of Europe in the healthcare sector; improve medical accessibility; promote community and environmental sustainability; and contribute to the construction of the Healthy China 2030 strategy.
Chiesi introduced its triple combination inhaler in May 2023 as a new option for patients with chronic obstructive pulmonary disease, or COPD, and was enlisted in National Reimbursement Drug List in the same year, bringing the access to the COPD patients. Chiesi has also offered solutions for premature baby treatment in China.
Giuseppe Accogli, CEO of Chiesi Group, said, "As we accelerate the implementation of our 4P strategy (Patients, People, Planet and Prosperity) in China, we also remain committed to our principle of creating shared value. This includes seizing business opportunities, while addressing social and environmental challenges.
"Chiesi's approach is based on sustainability and partnership, and we believe that cultural dialogue and mutual understanding are essential to long-term collaboration. Chiesi China Marco Polo Project is an example of such a combination, creating shared value for China and Italy, connecting our respective medical science capabilities and cultural heritages."
This year marks the 700th anniversary of Marco Polo's death and 20th anniversary of establishing a comprehensive strategic partnership between China and Italy. Deng Haoqing, president and general manager of Chiesi China, stated that by enhancing exchanges and cooperation in the fields of medical health and culture, Chiesi not only improves the health and well-being of the people of both countries and boosts mutual understanding, but creates a solid foundation for economic cooperation between the two nations.
Chiesi China has made efforts toward the protection and development of China's intangible cultural heritages. The company has collaborated with Chengdu Qingbaijiang Shu Embroidery Workshop to jointly support the national intangible cultural heritage Shu Embroidery; reached cooperation with Honghe county in Yunnan to back the Hani ethnic polyphonic folk songs, and supported local rural education including donating necessary materials to schools.
Chiesi China also actively donated to reforestation efforts to combat desertification, and participated in building ecological security barriers in Zhangye, Gansu province, along the Silk Road and the Hexi Corridor.
Research and development
Chiesi has always devoted itself to innovation. The group's R&D investment accounts for 23.8 percent of its sales revenue in 2023. Additionally, it was again recognized by the European Patent Office as a leading Italian pharmaceutical company in terms of European patents, holding more than 6,200 patents globally.
Chiesi also made a 400 million euros investment to establish its Biotech Center of Excellence in Parma, Italy, which officially commenced operations in October, focusing on the development and production of monoclonal antibodies, enzymes and other proteins.
The seamless integration of research results and industrialization will be a major advantage of this center. It will reduce the time from R&D to production deployment, thereby swiftly bringing new treatment solutions to the market, strengthening its innovation and R&D capabilities in its three core therapeutic areas.
"Innovation has always been our core foundation. We are committed to providing groundbreaking treatment solutions that can truly change patients' lives. The establishment of the new Biotech Center of Excellence marks a qualitative leap toward achieving this goal," Accogli noted.
"Not only does the center increase our production capabilities, it also reinforces our commitment to driving innovation. Furthermore, it will empower us to build close collaborative relationships, and explore more possibilities with new partners," he said.
Chiesi has made other key steps in developing innovative products and health solutions.
For instance, it signed a licensing agreement with Chengdu-based Haisco Pharmaceutical Group in November 2023 to jointly develop, produce and commercialize an innovative solution for a bronchodilation treatment for respiratory diseases. In the rare disease field, Chiesi's topical gel for treating epidermolysis bullosa is on the market in Europe and the United Kingdom. It received approval from the United States Food and Drug Administration in December 2023.
For specialty treatment, at the end of 2023, Chiesi signed an agreement with Oak Hill Bio to jointly develop, produce and launch a research drug specifically targeting complications in extremely premature infants. This highlights its commitment to developing innovative solutions and improving the health of the most vulnerable newborns.
"China is a priority market to Chiesi with strong growth potential. I have visited China for two consecutive years together with my core team. We kicked off the 'China Acceleration Plan' at the beginning of 2024 to accelerate our investments in China, to expand the local team and improve our coverage and to benefit more patients." Accogli added.
Shared values
Chiesi views the "planet" as one of the four strategic pillars of the company, contributing to the sustainable development of society, the environment and the economy.
To address the climate crisis, the group has set a target to achieve net-zero emissions by 2035 and has developed an ESG (environmental, social and governance) strategy for 2023-28 to address the environmental effects of its production and operations. Previously, Chiesi has become a certified B Corp since 2019, making environmental, social, and economic sustainability growth drivers of its business development.
"As a pharmaceutical company committed to the respiratory sector, Chiesi is keenly aware of the impact of climate change on the natural environment and human health, especially for patients suffering from respiratory diseases," Accogli said.
For this reason, Chiesi embeds the concept of sustainable development into product innovation, promoting the development of a new type of pressurized metered-dose inhaler with reduced carbon emissions. This project, costing more than 350 million euros, will adopt propellants with lower global warming potential, aiming for a 90 percent reduction in the carbon footprint.
In May, Chiesi China was selected for the first time in the 2024 ESG Fortune China thanks to its outstanding performance in the sustainability field.
"Chiesi China has always upheld the business philosophy of shared values, bringing positive impacts to society and the environment while expanding business development. We will continue to promote sustainable development, collaborating with the industry's upstream and downstream, as well as various sectors of society to jointly create a greener and more prosperous future," Deng said.
