Stevanato Group Announces Agreement with BARDA for the Expansion of Vials Production to Create Industrial Base Capabilities for National Defence
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, 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 US Department of Health and Human Services through its partnership with the Department of Defence’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 $95m 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 US for national defence readiness and preparedness programmes 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 honoured to have been selected by BARDA for this important investment, which we believe will help fortify the US 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 utilised 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 US 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.