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Chiesi Farmaceutici Announces New Mexico Affiliate

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Chiesi Farmaceutici Announces New Mexico Affiliate PR Newswire PARMA, Italy, October 25, 2012 PARMA, Italy, October 25, 2012 /PRNewswire/ -- The Italian Group, which generates 72% of its turnover outside Italy, continues with its internationalisation strategy in

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Chiesi Farmaceutici Announces New Mexico Affiliate
PR Newswire PARMA, Italy, October 25, 2012
PARMA, Italy,October 25, 2012/PRNewswire/ --
The Italian Group, which generates 72% of its turnover outside Italy, continues with its internationalisation strategy in Latin America
th Chiesi Farmaceutici S.p.A., a multinational pharma group based in Parma, Italy, has recently opened its 25 affiliate, Chiesi Mexico, representing a milestone in the company's internationalisation plan, which began in 1978.
http://photos.prnewswire.com/prnh/20121016/568014 Directed by Manuel Cosme Odabachian, the Mexican affiliate will firstly focus on the Special Care sector with its natural surfactant for neonate respiratory distress syndrome, and then extend commercial activities to drugs for respiratory diseases.
"Mexico," underlinesAlberto Chiesi,Chiesi Group President, "is the second most important pharmaceutical market in Latin America, and has grown considerably in recent years. This, combined with national healthcare policies designed to provide for almost the entire population, has prompted us to invest in this country. As a company firmly rooted in Italy, we regret the fact that our country cannot boast the same prospects. Yet recent governmental decisions regarding prices encourage pharma investors to look elsewhere."
According to CEOUgo Di Francesco, "Mexico is a key element in the development strategy adopted by the Group for the next fewyears. Our therapeutic range, based on a combination of specialist drugs and widely-distributed products, aims to respond to the needs of a large country which is continually improving healthcare for its citizens."
Last year Chiesi Groupconsolidated sales, 72% of which was generated outside the domestic market,reached 1,057 million Euro(+4.1% on 2010). R&D investments in 2011 totalled170 million Euro, around 16% of sales, placingChiesi top among Italian pharma companiesand13th among European pharmaceutical companies for R&D investment(EU Industrial R&D Investment Scoreboard).
Further growth is planned for 2012 to exceed sales of1,100 million Euroand ensure R&D investment levels are maintained at over180 million Euro.
"The Chiesi Group's particular focus," highlightsPaolo Chiesi, Vice President and R&D Director, "has always been Research and Development and this will continue to be crucial to our growth plan. We are satisfied with the results for 2011, especially at a time when all markets are experiencing significant difficulty, including Europe, which is close to stagnation. Despite this difficulty, we intend to continue investing in innovation, as we believe this is the only way to sustain growth."
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