The new strategic collaboration aims to provide innovative primary packaging to pharmaceutical and biopharmaceutical companies using Recipharm’s proprietary soft mist inhalers.
PIOMBINO DESE, Italy, March 16, 2023--(BUSINESS WIRE)--Stevanato Group S.p.A. (NYSE: STVN) a leading global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries, today announced a collaboration with leading Contract Development and Manufacturing Organisation (CDMO), Recipharm. Under the agreement, Stevanato Group will lend its 70+ years of manufacturing experience to support the development and production of pre-fillable syringes for use in Recipharm’s soft mist inhalers. As part of this collaboration, Stevanato Group will provide and manufacture its glass pre-fillable syringe Alba® assembled with the Integrated Spray Module (ISMTM) of Recipharm’s soft mist inhaler technology, the Pre-Filled Syringe Inhaler (PFSITM).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230316005156/en/
Stevanato Group Collaborates with Recipharm to Develop and Manufacture Pre-fillable Syringes for Use in a New Soft Mist Inhaler for the Inhalation of Sensitive Biological Products (Photo: Business Wire)
This collaboration highlights Stevanato Group’s capabilities as a one-stop shop offering contract drug manufacturing organizations support in their drug development programs, from the clinical phase through to market release. Stevanato Group’s Alba® syringes feature an internal coating based on silicone oil, which is cross-linked with the glass surface, thereby minimizing sub-visible particle release and aiming to ensure superior performance during delivery.
The combination of the Alba® syringe and Recipharm's innovative soft mist inhaler technology delivers sensitive drug products more efficiently to the respiratory airways and provides biopharma companies with a containment solution featuring enhanced stability and safety. With Stevanato Group taking responsibility for the complete primary drug package, Recipharm’s focus is on the design and manufacture of the spray technology, the inhalation device, and the fill and finish of the product.
Recipharm’s soft mist inhaler (PFSI™) is developed, manufactured, and licensed by Resyca® and is supplied as a pre-filled and ready-to-use inhalation device.
Bernhard Muellinger, General Manager and Chief Operational Officer at Resyca® (a joint venture between Recipharm and Medspray), said: "By leveraging Stevanato Group's integrated capabilities, from plastic injection molding and assembly capabilities to comprehensive scientific and analytical support services, we will be able to offer a turnkey solution, and accelerate and de-risk our pharmaceutical customers’ development programs. This is particularly true for novel inhaled biological products."
"Biopharma companies are advancing patient care with new, innovative treatments, particularly in biologics and mRNA therapies. These products require specialized, high-performance drug containment systems, like our Alba® syringe platform, together with patient-centric drug delivery devices like the PFSI™. Thanks to our integrated end-to-end capabilities we are able to support our customers at scale with a comprehensive system solution," said Mauro Stocchi, CBO of Stevanato Group.
Franco Moro, CEO of Stevanato Group, noted: "Creating a network of strategic collaboration partners is an important element of our long-term strategy to match customers’ needs and address self-administration trends in patient care with user-friendly drug delivery devices that provide variable and accurate dosing. This agreement marks another key step in broadening our high-value solutions and integrated capabilities as we continue to diversify and enhance our presence in the drug delivery market of pen injectors, auto-injectors, inhalers, and wearable pods."
This press release may include forward-looking statements. The words "aims", "will", "aiming", "accelerate", "are able", "creating", "continue", and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the investments the Company expects to receive, the expansion of manufacturing capacity, the Company’s plans regarding its presence in the U.S. market, business strategies, the Company’s capacity to meet future market demands and support preparedness for future public health emergencies, and results of operations. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the Company assumes no obligation to update any such forward-looking statements.
Founded in 1949, Stevanato Group is a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. The Group delivers an integrated, end-to-end portfolio of products, processes and services that address customer needs across the entire drug life cycle at each of the development, clinical and commercial stages. Stevanato Group’s core capabilities in scientific research and development, its commitment to technical innovation and its engineering excellence are central to its ability to offer value added solutions to clients. To learn more, visit: www.stevanatogroup.com.
Recipharm is a leading Contract Development and Manufacturing Organisation (CDMO) in the pharmaceutical industry employing almost 9,000 employees. Recipharm offers manufacturing services of pharmaceuticals in various dosage forms, production of clinical trial material and APIs, pharmaceutical product development and development and manufacturing of medical devices. Recipharm manufactures several hundred different products to customers ranging from big pharma to smaller research and development companies. The company operates development and manufacturing facilities in France, Germany, India, Israel, Italy, Portugal, Spain, Sweden, the UK and the US and is headquartered in Stockholm, Sweden.
For more information on Recipharm and our services, please visit www.recipharm.com
Resyca® was founded in 2020 and is a joint venture between Recipharm and Medspray. Resyca® is part of the Recipharm Advanced Delivery Systems business unit. Resyca® develops and manufactures pocket size, user friendly soft-mist inhalation devices, based on standard pre-filled syringe and filled on standard filling lines. As a soft mist development center with Recipharm, Resyca® offers an end-to-end service for soft-mist inhalation products, ranging from early-stage development to commercial manufacture, including filling, labeling, and packaging.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230316005156/en/
Stevanato Group’s media relations:
Cassie Gonzales: stevanatoUS@teamlewis.com;
Lisa Miles, lisa.miles@stevanatogroup.com
Fiona Whyatt: fiona.whyatt@ramarketingpr.com, +44 (0)191 222 1242
As the Fed raises interest rates, here are the biggest winners and losers from its latest decision.
The last few weeks have been rocky, with the collapse of Silicon Valley Bank, and the crypto-heavy Silvergate and Signature banks, dominating the headlines. For a short time, it seemed that the contagion would spread to the global financial giants. Now, however, it appears that we’ve managed to avoid a true banking crisis – and Raymond James’ chief investment officer Larry Adam has pointed out several reasons why. For starters, Adam notes that Credit Suisse, despite its troubles, found a way out
The market's bubble has now "burst," and will impact "everything everywhere all at once" in the U.S. economy, economists Stephanie Pomboy and Art Laffer argue.
The major indexes fell sharply despite the Fed signaling just one more rate hike. Apple and other titans have masked weak market breadth in recent weeks.
Wolfe Research analyst Nigel Coe took a look at what GE Aerospace and GE Vernova will be worth on a stand-alone basis. GE Vernova, GE's power generation businesses, are due to be spun out in early 2024.
A "bull case" scenario for the shares of beleaguered First Republic Bank as it considers its options became more difficult on Wednesday after Treasury Secretary Janet Yellen said there is no discussion on insurance for all bank deposits without approval from the U.S. Congress. First Republic, whose shares have lost much of their value since the banking crisis started in the U.S. on March 8, is among banks speaking to peers and investment firms about potential deals in the wake of U.S. regulators' taking over Silicon Valley Bank and Signature Bank following bank runs. Morgan Stanley analyst Manan Gosalia, in a report earlier this week, set a target price of $54 for First Republic shares in a best-case scenario.
The legendary investor published a chart which quantifies the uninsured clients and unrealized capital losses for major regional banks.
Elon Musk on late Monday offered his opinion on what the Federal Reserve should do with its benchmark interest rate. The Fed's FOMC is meeting for two days this week.
Nvidia ‘s latest rally has the stock less than $10 billion away from passing Berkshire Hathaway to become the fifth largest by market capitalization. At that point Nvidia stock had fallen 62% from the start of 2022 through its low on Oct. 14, leaving it with a market cap of just $279.6 billion, as worries about the chip sector and valuation weighed on the shares. Berkshire, on the other hand, dropped 12% through its own low on Oct. 12, when it was valued at $588.5 billion.
Nvidia’s share price has more than doubled over the past six months as it becomes the preferred supplier to both sides of the AI war raging between Google and Microsoft.
UBS on Sunday agreed to buy rival Swiss bank Credit Suisse for 3 billion Swiss francs ($3.23 billion) in stock and agreed to assume up to 5 billion francs ($5.4 billion) in losses, in a shotgun merger engineered by Swiss authorities to avoid more market-shaking turmoil in global banking. Klein, a veteran dealmaker, was merging his eponymous advisory boutique into Credit Suisse's investment banking operations to create CS First Boston as a standalone business which he would have led from New York. UBS has now assigned a legal team to examine how to void the contract Credit Suisse signed with Klein in the cheapest way possible, according to the FT report, which cited people with direct knowledge of the matter.
Before this sale, ARK Invest owned 9.9 million shares of the crypto exchange worth $575 million.
(Bloomberg) -- Ford Motor Co.’s Jim Farley was told recently of a survey that found investors overwhelmingly believe legacy automakers can’t be cost competitive with Tesla Inc.Most Read from BloombergBomb Threat Called In to New York Court Where Trump Hearing HeldFed Caught Between Inflation and Bank CrisisA New Chapter of Capitalism Emerges From the Banking CrisisXi Aligns With Putin Against US, But Hesitates on Gas DealFinally, a Serious Offer to Take Putin Off Russia’s Hands“I’m with them,” t
(Bloomberg) -- US equity futures climbed with Asian stocks as relative calm returned to markets Thursday following a tumultuous day of losses on Wall Street.Most Read from BloombergFinally, a Serious Offer to Take Putin Off Russia’s HandsBomb Threat Called In to New York Court Where Trump Hearing HeldAckman Warns of Accelerated Deposit Outflows After Fed DecisionA New Chapter of Capitalism Emerges From the Banking CrisisStocks Roiled by Fed Day’s Nerve-Wracking Rhetoric: Markets WrapAn index of
The end of the Federal Reserve's bruising rate hiking cycle may be in sight, yet investors are finding plenty to worry about when it comes to the U.S. stock market. In its first meeting since the collapse of two U.S. banks this month and the downfall of ailing European lender Credit Suisse, the Fed on Wednesday raised interest rates by a quarter of a percentage point and indicated it was on the verge of pausing further increases in borrowing costs. It was a message long awaited by many investors, after the S&P 500's fall by nearly a fifth last year as the Fed launched its most aggressive monetary policy tightening cycle since the 1980s.
Aeva Technologies, Inc. (AEVA) delivered earnings and revenue surprises of -6.25% and 94.08%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
The former Microsoft U.S. president aims to modernize a telecom company.
Abel, who heads the non-insurance operations of Berkshire (ticker: BRK.A, BRK.B), purchased 55 class A shares at a price of $447,259 on Friday, lifting his stake in the A shares to 228 shares. Berkshire shares rose 1% Tuesday to $460,515, and the B shares gained 0.9% to $303.85. The purchases were made on behalf of the Gregory Abel Revocable Trust on behalf of his wife, children, and other family members.
General Electric will emerge as an aviation and defense pure play in early 2024 after completing its big breakup. Is GE stock a buy after its huge rally? The company remains on track to spin off its energy business, as GE Vernova, in early 2024.
Being profitable on paper belies the tough situation for GameStop.