Chiesi Group, a renowned biopharmaceutical powerhouse headquartered in Parma, Italy, revealed €3bn in sales in 2023, a significant growth from the previous year.
With 31 affiliates globally, Chiesi Group has demonstrated its commitment to delivering tangible benefits for patients, people, and the planet, showcasing the efficacy of its operating model centered around shared value, sustainability, and high ethical standards.
Giuseppe Accogli, CEO of Chiesi Group, said: “The Company went through a significant transformation, adopting a new operating model and adapting to market dynamics by creating business Franchises and geographical Regions.
“This organisational design aims to make Chiesi Group even more efficient and effective on a global scale. This commitment is also reflected in the growing number of top managers with valuable international and multicultural expertise and in our ability to attract talents to promote long-term prosperity and development.
“The accelerated evolution experimented by the Chiesi Group in 2023 was consistent with our shared value approach. This means addressing social challenges and business opportunities together, fostering a culture of inclusion, respect, and empowerment among Chiesi Group’s 7,000 teammates”.
Chiesi Group 2023 business growth
Chiesi’s impressive growth trajectory saw the company achieve over €3bn in sales, marking a significant 10% growth, +12% at constant exchange rates (CER).
Maintaining an EBITDA of approximately 30% for the fourth consecutive year, the company solidified its position as a leader in the biopharmaceutical industry.
Reinforcing its momentum, Chiesi witnessed growth across all three business areas: AIR (respiratory diseases), RARE (rare and ultra-rare diseases), and CARE (specialty care, neonatology, and consumer healthcare).
| Group Revenues | 2022 | 2023 | Growth @CER |
| Total | €2,749M | €3,026M | 12% |
| Air | €1,634M | €1,708M | 6% |
| Rare | €332M | €540M | 65% |
| Care | €783M | €778M | 2% |
| Financials | 2022 | 2023 | Growth |
| EBITDA | €827M | €893M | 8% |
| EBITDA % | 30.1% | 29.5% |
Notably, the US experienced a remarkable 25% growth, while Europe and China/International grew at 7% and 22% respectively.
Central to its growth strategy is innovation, with R&D investments reaching nearly 24% of total sales in 2023.
These investments fuelled both internal pipeline advancements and external collaborations, driving the position of Chiesi Group as an innovator in the field.
Highlights from therapeutic areas
The AIR Franchise, focused on respiratory diseases, represented over 56% of Chiesi’s sales and experienced a commendable 6% growth at CER.
Key achievements included the introduction of Chiesi’s fixed triple formulation for asthma and COPD treatment in China, opening new avenues for growth and patient access.
Chiesi’s partnership with Affibody AB and Haisco Pharmaceutical further enriched its AIR portfolio, showcasing the company’s commitment to collaboration and innovation.
RARE Diseases Business Unit
With a dedication to addressing rare and ultra-rare genetic diseases, Chiesi’s RARE unit achieved over €500m in sales.
Strategic acquisitions, such as Amryt Pharma Plc, bolstered the unit’s growth, expanding its impact on patients in need.
FDA approvals for treatments targeting Alpha-Mannosidosis and Fabry disease underscored Chiesi’s commitment to advancing therapies for rare diseases worldwide.
CARE success
The Chiesi Group CARE franchise, catering to specialty care, neonatology, and consumer healthcare, demonstrated consistent growth across regions, with sales up 2% at CER.
Notable advancements included the development of a natural surfactant for premature newborns and agreements to address complications of extremely premature birth, underscoring the company’s commitment to innovation and patient care.
Chiesi Group’s commitment to people and planet
Chiesi Group has achieved significant milestones in its dedication to promoting well-being.
For the third consecutive time, the company has been awarded certification as a Great Place to Work™, now spanning 27 countries compared to the initial eight in 2019.
Progressing in its Gender Equality Global Challenge, Chiesi adheres to applicable legal frameworks and principles of fairness and justice, maintaining a Zero Global Gender Pay Gap and receiving recognition with the Fair Pay Certification in early 2024.
Remaining steadfast in its commitment to achieving Net-Zero greenhouse gas (GHG) emissions by 2035, Chiesi reinforced its dedication to combating climate change in 2023 by actively engaging with the Carbon Disclosure Project (CDP), earning an A- rating in the Climate Change CDP questionnaire.
Additionally, Chiesi’s sustainability commitment earned it a Platinum medal in the Ecovadis sustainability assessment. Ecovadis, a global leader in sustainability ratings, evaluates companies’ performance across the environment, ethics, labor rights, and sustainable procurement criteria.
These achievements underscore Chiesi Group’s unwavering commitment to high sustainability and ethical standards, supported by its governance model built on transparency and accountability as both a Benefit Corporation (in Italy, the US, and France) and a B Corp certified company.
Company vision for 2024
Looking ahead to 2024, Chiesi aims for steady growth, building on four years of consistent profitability.
With plans to expand its value proposition in AIR, RARE, and CARE, the company will also inaugurate its new Biotech Center of Excellence in Parma, Italy, enhancing its capabilities in biologic drug development and production.
In alignment with its dedication to sustainability, Chiesi plans to establish new Net-Zero GHG emissions reduction targets in line with the Science Based Target initiative (SBTi) Corporate Net-Zero standard.
The company remains committed to supporting its employees as parents and caregivers and offering continuous training and development opportunities to nurture future leaders.
Chiesi’s success in 2023 reflects its unwavering commitment to shared value, sustainability, and innovation. As it looks to the future, the company remains dedicated to enhancing patient outcomes, supporting its employees, and creating shared value across communities and stakeholders.
