400 million for diagnostics (from CT to ultrasound) –

400 million for diagnostics (from CT to ultrasound) –

Fulvio Bracco, CEO of Bracco Imaging

In the public, Call Aunt Diana Dr. Bracco on. Discreet, Bocconian, a past in investment banking at Citibank in London, New York and Milan, Fulvio Renoldi Bracco wanted to be a doctor. At the age of 58, he led the pharmaceutical company into a new phase, that of global precision diagnostics. It’s not that Bracco isn’t already active in this field, on the contrary: it is one of the leading providers in diagnostic imaging. These include, for example, the contrast agent iopamidol for performing CTs and others for magnetic resonance, ultrasound, radiopharmaceuticals for nuclear medicine. But now it’s about bringing new products onto the market and consolidating the presence not only in the classic USA and Europe, but also in China and Japan. Staying a family business: We are not looking for partners and want to grow. We have a solid business and international prospectssays Fulvio Renoldi Bracco.

Diana Bracco, President and CEO of Bracco Spa
Diana Bracco, President and CEO of Bracco Spa

the son of Adriana Bracco, sister of Diana. He inherited the name from his grandfather and if Diana remains President and CEO of Bracco Spa (which is 100% owned by the family), it will be his, as Vice President and CEO of the largest subsidiary, Bracco Imaging, who entrusted the future of the group. Diana announced the passing of the baton 12 years ago to make it clear to the market that the family had no intention of leaving the company. As the international expansion plan focuses precisely on imaging (the marketing of classic drugs such as the historic Cebion, which was discontinued in 2016), The generation change alongside the coaching is going smoothly.

The industrial plan until 2028

We complete the 2023-2028 industrial plan with planned 350-400 million industrial investment, which add up to 8% of the income invested in research every year – says Fulvio Renoldi Bracco, who is also Vice-President of Federchimica –. Diagnostics is one of the pillars of modern medicine Bracco Imaging has an important future ahead of it. Three trends say this: the lengthening of average life expectancy, increasing lengthening, and the greater accessibility of healthcare systems for treatment Despite the shortage of staff, the technologies are becoming more and more advanced. Finally, health services save money through early diagnosis, which is necessary for precision medicine. The more information you get about the patient, the lower the costs and the better the care.

The new Bracco headquarters in Milan
The new Bracco headquarters in Milan

The new headquarters

As of April 12, Bracco’s headquarters have been transferred to Via Folli 50, Lambrate. the historic headquarters, renovated as a campus with genome laboratories, public spaces and ecologically sustainable buildings. 370 of the group’s 3,700 employees (including 1,400 in Italy) will work here. “We expect the official inauguration in autumn,” says Fulvio Renoldi Bracco. A sign of continuity for the group, which now generates 88% of its turnover abroad and sells in more than 100 countries. The transfer comes in parallel with the long journey that the entrepreneur completed in June between the United States, Japan and Chinato meet traders and producers.

The alliance with Beijing

In Japan, Bracco formed a company on April 1, Bracco Japanto better control the market, where the company already has one of its nine factories. But China, the second target country after the US (Italy is the third), the target considered essential, with no reverse gear. Bracco has been running a factory here for years with a local shareholder who holds 30% of the shares, Shanghai Pharma. He wants to strengthen the alliance. “The Chinese are getting stronger and stronger in the pharmaceutical and diagnostics industry,” says the entrepreneur. Despite the general cooling off in relations with China In June, we approved the second investment phase of around 20 million with our Chinese partner. In the expanded factory, we will open a second line also the production of sterile bottles as well as the compilation of the active ingredients for contrast media delivered from Italy. Relations with China must be maintained. an important market to watch with productive resources.

The budget was approved

On July 6, the group founded by Elio Bracco 96 years ago approved the 2022 budget. The year ended for Bracco Spa, whose director is Fulvio Renoldi Bracco, with a turnover of 1.782 million, up 5.4%. from 2021, although the impact of raw material and energy costs (iodine increased by 70% in the last 12 months) led to a significant erosion of the gross operating margin, which nevertheless reached 306.3 million. THE73% of sales come from Bracco Imaging, 20% from Bracco Medical Technologies. the company that makes devices such as injectors for coronary angiography (it was the top-selling company at 18%). 7% come from the Cdi, the Italian diagnostic center. The USA covers 47% of sales, Europe 32%, China 11%. The goal for this year is to increase sales by another 5-6% to around 1.9 billion.

Portfolio and new products

There are also new products in the pipeline that will not only diagnose diseases but also treat them. We have greatly expanded the portfolio, we want to improve the accuracy of CT scans, ultrasound, MRI and nuclear medicine, says the entrepreneur: the four areas that Bracco Imaging is working on. Seven molecules in the clinical phase, six of which are diagnostic and one therapeutic. Two are in phase 3 and one of them is the new Rh-Psma nuclear medicine tracer: a radiopharmaceutical for the detection of metastatic prostate cancer, which received US approval in May FDA approved for diagnostic use. It enables a targeted diagnosis – says Fulvio Renoldi Bracco – and can also be used for treatment with small variations. This therapeutic part is still being investigated in phase 1. But it shows what Bracco, which is also progressing through acquisitions (most recently in 2019, Blue Earth Diagnostic), wants to become. Among the molecules there is a second one that has already been approved in America in the last 12 months: gadopiclenol. a contrast agent for MRI: it makes it more effective and safer, we want to bring it to Europe as soon as possible.

The new generation

Then there are the other research directions. A Fluorescence-guided surgery showing the surgeon the tumor lesion. The other is molecular imaging microbubbles for ultrasound developed at the group’s Geneva center: they detect tissues in which a process of angiogenesis is underway, the production of new blood vessels associated with tumor formation and chronic inflammation. The fifth generation is now growing up. Fulvio Renoldi Bracco is planning a trip to Asia with his two sons, aged 20 and 23. One studies economics, the other physics. Will they join the family business? At the moment you are curious.

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