Stevanato Group S.p.A. (NYSE: STVN), a global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries, announced it has secured €200 million in financing through agreements with BNL BNP Paribas, Cassa Depositi e Prestiti (CDP), and Banco BPM. The funding is intended to support the company's ongoing capital expenditure projects in Cisterna di Latina, Italy, and Fishers, Indiana.
Strategic Capacity Expansion Initiative
The financing agreements bolster Stevanato Group's capacity expansion efforts and the scaling of commercial production to support customers' growing biologics programs. CDP has committed €50 million to enhance the production of pre-filled syringes and set-up future capacity for ready-to-use (RTU) cartridges at Stevanato Group's Italian plant in Cisterna di Latina.
Additionally, BNL BNP Paribas has provided €100 million, and Banco BPM has contributed €50 million, both aimed at scaling pre-filled syringe production at the company's facilities in North America (Indiana) and Italy, as well as completing the ongoing construction for device manufacturing in Fishers.
Financial Strategy and Market Response
"These agreements are an important element to Stevanato Group's financial strategy, allowing us to capitalize on robust customer demand and support the Company's long-term growth objectives," stated Marco Dal Lago, Chief Financial Officer of Stevanato Group. "We are committed to supporting our customers' biopharmaceutical programs with our unique value proposition of offering integrated solutions across the pharmaceutical value chain, helping to enable our customers to meet and exceed their program objectives."
Banking Partners' Commitment
BNL BNP Paribas and Cassa Depositi e Prestiti have renewed their support for Stevanato Group to achieve long-term organic growth objectives in its key end-markets.
Gianluca Mariani, Head of Industrial Manufacturing, Large Corporate Banking at BNL BNP Paribas, commented: "Our support for Stevanato Group reflects our commitment to partnering with companies that invest in innovation, sustainability and global expansion. Stevanato Group is a leading example of excellence in its sector, and our goal is to make our domestic and international platforms available to contribute to the growing ambitions of the Company in the coming years."
Marco Roberto Pessione, Head of Corporate Coverage at CDP, stated: "We are proud to once again support the growth plans of Stevanato Group, a leading Italian company active in the pharmaceutical sector, which is strategic for the Country. We firmly believe in the value of companies that invest in research, quality, and sustainable development, and that make a tangible contribution to the growth of the national economy."
Enrico Lemmo, Head of Corporate Banking North-East at Banco BPM, added: "We are proud to support a company like Stevanato Group, a symbol of Italian industrial excellence worldwide, in its solid and innovation-driven growth journey. This financing reflects our commitment to backing projects that create value locally while strengthening the international competitiveness of Italian enterprises."
Company Background
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.
