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The Chiesi Group Lands in the United States
Date:5/7/2009

lready a market leader.

The availability of a solid commercial base in this country will, in future, allow us to create synergies and new sales outlets for some of the projects we are developing in the respiratory area."

"This agreement means a major transformation for Cornerstone, giving us a new respiratory drug, major capital, and the possibility of accessing future products," affirmed Craig Collard, chairman and CEO of Cornerstone.

Curosurf is an excellent product with a leadership position in the market, a solid intellectual property situation, and an excellent growth potential. In addition, Chiesi's strategic investment brings 15.8 million dollars to our coffers, a significant injection of cash that can be used to continue to develop our products in the pipeline, to strengthen our marketing network and to further improve our position in the respiratory market.

Furthermore, this additional capital puts us in a favourable position to evaluate and consolidate the opportunities for acquiring high-quality respiratory products under license. Finally, the agreement allows us to work in close contact with Chiesi, one of the most respected and successful European pharmaceutical firms.

Chiesi Profile

Founded in 1935 in Parma, in 2008 the Chiesi Group turned over 748 million Euros, posting a +14.3%, almost three times the average growth for the European market. Active primarily in the area of respiratory therapeutics and rare diseases, the Group has 22 associated companies worldwide and is present in more than 50 countries with its drugs, produced at its facilities in Parma, Blois (France) and Santana de Parnaiba (Brazil).

In 2008 investments in R&D were 108 million Euros, equal to 14.4% of revenues, bringing us close to the target of 15% that the company intends to reach and maintain in the next few years. To the three research centres in Parma, Pa
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SOURCE Chiesi Farmaceutici S.p.A.
Copyright©2009 PR Newswire.
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