Stevanato Group (NYSE: STVN), a global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries, announced today that its subsidiary, OMPI of America Inc., entered into an agreement to support the Biomedical Advanced Research and Development Authority (“BARDA”, part of the Office of the Assistant Secretary for Preparedness and Response at the U.S. Department of Health and Human Services through its partnership with the Department of Defense’s Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense and Army Contracting Command) pursuant to which BARDA has agreed to provide up to approximately $95 million to Stevanato Group.
Under the agreement, Stevanato Group has agreed to expand its planned manufacturing capacity in Fishers, Indiana, for both standard and EZ-Fill® vials. BARDA’s financing is intended to strengthen domestic capabilities in the U.S. for national defense readiness and preparedness programs for current and future public health emergencies. In addition, Stevanato Group has agreed to provide priority access to designated BARDA vaccine and drug development partners, when necessary.
Franco Moro, Chief Executive Officer of Stevanato Group, said, “We are honored to have been selected by BARDA for this important investment which we believe will help fortify the U.S. pharmaceutical supply chain to meet the demands for current and future public health emergencies. We believe this investment will rapidly accelerate and scale Stevanato Group’s capacity in Indiana and further expand our growth in this key strategic market.”
Through the agreement with BARDA under the American Rescue Plan Act of 2021, Stevanato Group has agreed to expand its production capacity in Indiana for standard and EZ-Fill® vials to be utilized with BARDA and its affiliate partners’ for current and future pandemic vaccines. Stevanato Group’s patented EZ-Fill® platform offers increased flexibility, faster time to market, enhanced quality and lowers the total cost of ownership for customers.
Franco Stevanato, Executive Chairman of Stevanato Group, added, “This agreement confirms our strong reputation, the importance of our primary packaging solutions, and further confirms our strategic approach in the United States to invest and broaden our product offering. We stand ready to support the U.S. government in its efforts to combat public health emergencies and support the American people.”
This project has been supported in whole or in part with federal funds from the Department of Health and Human Services; Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA), under Contract Number W58P05-22-2-0005.
03.03.2022, Stevanato
News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.