Read the Conversation
Meeting Highlights:
- Chiesi’s Purpose-Driven Model: Giuseppe was drawn to Chiesi by its deep-rooted mission around four core “branches”: patients, planet, people, and prosperity. This Benefit Corporation and B Corp-certified philosophy informs every decision, aiming for holistic patient care, sustainable practices, and a strong, positive workplace culture.
- Long-Term, Generational Thinking: Chiesi prioritizes long-term impact over short-term gains, which has led to significant double-digit growth. Strategic goals include doubling patient impact, reducing emissions by 90% by 2035, and becoming a top-10 global employer.
- Holistic Innovation Strategy: Chiesi is transforming innovation beyond product development, focusing on solutions across the entire patient journey. This includes early diagnostics, services, mental health support for families, expanding partnerships through an open innovation model, and investing in a new biotech center in Parma.
- Digital and AI Integration: The company is embracing digital health tools such as smart inhalers, educational apps, and AI-powered digital twins of the lung to improve compliance, predict treatment outcomes, and accelerate R&D processes.
- Tangible Sustainability and Equity Efforts: Chiesi has invested over €400M in the carbon-minimal inhalers project and eco-certified infrastructure while also taking steps like eliminating the gender pay gap, expanding globally with diverse leadership, and improving access to care in underserved regions.
EF: What attracted you to Chiesi, and what mission did you set for yourself in this role?
GA: After many years in MedTech, I embarked on this new journey, which was new in many ways. This experience was different for several reasons. It was my first time working for an Italian company, having only worked with American companies. It was also my first experience joining a family-owned business rather than a large, publicly traded multinational.
Naturally, people asked, “Why?”. My decision was not about returning to Italy; it was about purpose and mission, which deeply resonated with me. Sometimes, that alignment between personal purpose and a company’s mission truly makes a difference. When I was younger, I thought purpose was something people reflected on as they neared retirement. Large companies would talk about it, but I did not fully appreciate its significance. However, in the last few years of my career, I have spent a lot of time reflecting on my purpose and the kind of companies I want to be part of. That is what led me to Chiesi.
I took on something unfamiliar outside my usual path, but the strength of the company’s purpose made the difference. It was that “aha” moment for me. If you want to visualize Chiesi’s mission, imagine a tree with three main branches: patients, people, and the planet.
In our approach to patients, we seek to be different. For us, patients are not just recipients of pharmaceutical solutions; they are people on a journey involving their families, their struggles, and their broader needs. Our ambition is to support them beyond just the treatment itself. Many companies focus on treatment; we aim to make an earlier impact by offering services and support that address the broader journey of patients and their families.
The second branch is the planet. We take this commitment very seriously. We are a Benefit Corporation and a B Corp-certified Group. This means we have voluntarily set impact targets beyond shareholders, holding ourselves accountable to all stakeholders. For us, sustainability is not just a box to check or an investment trend to follow. Being a family-owned company means we have a long-term perspective. Caring about the planet and the sustainability of our business is deeply rooted in the DNA of Chiesi. .
The third branch is people, which is just as important. We have achieved significant milestones in this area. One of the most remarkable achievements is that Chiesi became the first Italian company ever and the only European Pharmaceutical company to be ranked in last year’s top 25 World’s Best Workplaces™ list compiled by Great Place to Work and Fortune Magazine. This recognition speaks to how much we care about our people and how much they recognize it.
This is the essence of our purpose. When we focus on these three branches—patients, people, and the planet—prosperity follows naturally. What some companies refer to as financials, we call prosperity. Growth and success are natural outcomes if the tree is strong, has deep roots in the company's values, and has healthy leaves and flowers.
We see this in our results. In 2024, we achieved €3.4 billion in revenues and exceeded €1 billion in EBITDA, growing at double digits. We have seen three consecutive years of double-digit growth, with revenues increasing 13% compared to 2023, something far from guaranteed. This proves that a strong purpose and a clear focus on the right priorities lead to sustainable success.
Every morning, I wake up knowing that we touch the lives of more than 10 million patients worldwide. When I think about our impact, not just on them but on their families, it is the size of a small country. That responsibility is something I take seriously. I feel proud. This is my purpose. And the weight of that responsibility, like a steady breeze pushing me forward, reminds me to do my best because so many depend on us.
I am proud of our people. There is complete alignment between my personal purpose and the company's purpose. If I am part of a great company, I want my impact beyond patients. I also want to make a difference for the planet because patient health and the planet's health are deeply connected.
We are in the respiratory business, and environmental health has significant implications for respiratory diseases. This means we have a responsibility to do more. Supporting patients directly is only part of it.
We must also take meaningful action for the planet. That is what made me fall in love with this mission. Two years ago, I embarked on this journey into the unknown.
EF: What are the current priorities on your agenda, and what can we expect from Chiesi this year?
GA: Joining Chiesi was a major shift in my life. I came in, and my first instinct was to ask “How are the sales this month?” Coming from a publicly traded company, that was my daily priority.
I quickly realized that this company thinks in generations, not just quarters. Of course, we want to meet our yearly targets and priorities, but our vision and impact go far beyond that. So, I would reframe your question to reflect the mindset of a family-owned company. The real question is, what are our priorities for the next five years and beyond?
Looking at the branches of our tree, our goal on the patient side is to double our impact. We want to touch the lives of twice as many patients as we do today. How will we achieve that? We believe in supporting the entire patient journey by continuing to invest heavily in innovation, which is the core of what we do, by establishing new partnerships and by expanding beyond products into services.
On the planet side, our goal for the next five years is to reduce Scope One and Scope Two emissions by 90 percent by 2030, with plans to tackle Scope Three and reduce emissions by 90% by 2035.
For people, we originally set a goal to be recognized among the Top 25 World’s Best Workplaces – a ranking compiled by Great Places to Work and Fortune - by 2030. We achieved that in 2024, much earlier than expected. Now, our next challenge is to aim for the top ten. We want to create an environment where people feel good and can be the best version of themselves. Monday should not be a dreaded day. It should be a day when they come to work and find friends, purpose, and a great working environment.
Before they sign anything, I always tell new hires not to take our word for it. Eat at the cafeteria. See if people are smiling. See if the atmosphere reflects what we have told you because we do not have actors putting on a show. What you see is real life. Our goal is for people to work hard because they feel responsibility, but also to work well and feel good doing it.
Suppose you translate all of this into the leaves and flowers of our tree, which means financial success for many. Our goal is to double sales by 2030. We will achieve that by excelling in innovation, continuously investing, and transforming our approach. We will make a real difference for the planet, reducing emissions at every level. And we will do it by staying true to our values and putting patients first.
EF: How are you transforming the way you approach innovation?
GA: We are transforming innovation in several ways. One of the main shifts is viewing innovation not just as product development but as creating comprehensive solutions. By examining the entire patient journey, we aim to understand what happens from diagnosis to therapy, and in the case of rare diseases, we identify critical gaps. For example, with respiratory diseases like chronic obstructive pulmonary disease, timely diagnosis is still a major issue. We want to address this before our products even come into play by focusing on the broader solutions that will have an earlier impact.
We are now examining the patient journey across all our therapies, understanding each phase and how we can make a meaningful impact. Each phase involves a variety of stakeholders, and we recognize that diseases—especially rare ones—can also profoundly affect patients' families. So, we aim to not only focus on the medical aspect of the problem but also offer psychological support to families, making us a company that truly focuses on solutions, not just the issue at hand.
For context, in Italy alone, it is estimated there are 2 million people living with a rare disease, and globally, that number rises to 300 million. This puts into perspective the scale of the challenge and the potential impact we can make. About 95 percent of these diseases do not have a solution. We are shifting our focus toward solutions, which is a significant innovation in itself.
Another key change is how we approach collaboration in the pharmaceutical industry. Pharmaceutical companies are typically very protective of their intellectual property, systems, and secrets. However, we have chosen a different approach by opening up our R&D. Collaboration can bring invaluable expertise because we recognize that we can make a greater impact if we join forces.
Over the past 2 years, we have signed several strategic partnerships, working with other companies with great products under development. This openness to collaboration is a key element of our strategy moving forward. We have signed four collaboration agreements—two in neonatology and two in respiratory care—with well-established companies with promising product development. We made these partnerships because we believe in leveraging external expertise and working with others to achieve greater results.
This openness to external innovation is a major shift for our company. To support this, we established a Center for Open Innovation and Competence. This initiative acts as a hub for collaboration, bridging our organization and external partners, such as startups, medical centers, and research institutions. Instead of protecting our R&D, we encourage young entrepreneurs to use our tools and resources. This collaboration will help us make a real difference in improving people's lives.
Lastly, I want to highlight our significant investment in a new biotech center in Parma, which represents a €380 million investment. This facility is a major step forward for us, combining research, production, and packaging under one roof, enabling us to take a drug from mammalian cells to the final product, ready for packaging. This integrated approach enhances innovation and brings us a step closer to our goal of personalized care.
When we combine all these efforts, we also focus on global health. We are committed to ensuring that all patients have access to the best possible care regardless of where they live. Patients in both developed and emerging markets must have equal opportunities to receive the treatments they need. I have lived in the U.S. and Italy and know firsthand how regional differences affect healthcare access.
We are asking ourselves how we can positively impact emerging markets where the need for therapies is critical. Our goal is not just to focus on the surface but to truly address the needs of the patients, providing them with solutions that will improve their quality of life. Human health and the health of the planet are deeply interconnected. What truly matters is proving our commitment to this belief.
Let me share some examples of how we demonstrate our commitment to the planet. Our building, for instance, is one of the few in the world to be Platinum LEED certified. This certification came at a higher cost, but it is tangible proof that we take environmental responsibility seriously. We could have built the same structure for half the price, but we chose to make this investment because it reflects our values.
Here’s something more basic that I’m personally proud of: In our daily operations, whenever I approve something in our system, I get a pop-up notification saying, "You saved four glasses of water." It is not about the four glasses of water but that everything we do—down to the smallest action—reminds us of our company's purpose. These daily, consistent actions prove we are serious about our commitment, not just about talking the talk but walking the walk.
People often speak about purpose, whether it is about trees, cars, or other initiatives, but the important part is how we turn those words into meaningful actions. That shows we are truly committed and not just focusing on the surface level. This realization was a turning point in my thinking, and I wanted to share it with you.
It all starts with the small things because they reflect our everyday commitment, but it also extends to the larger investments that significantly impact us. For example, we invested over €400 million into a project to develop new low-carbon emissions inhalers that can reduce emissions by up to 90%. This investment contributes to the planet and improves the quality of life for patients, which shows how interconnected the two are.
This is a great example of how the small and large elements come together meaningfully. It is about making investments that have long-term positive effects, both for the planet and the patients we serve. It is also about recognizing that sustainability is not just about environmental impact but also about improving access, care, and outcomes for patients globally.
When we think about sustainability, we imagine something like a tree—its branches stretching in different directions. However, these branches should overlap, creating a seamless connection between patient care, environmental responsibility, and business success. It’s a process where everything becomes interconnected and mutually reinforcing.
EF: How is Chiesi incorporating digital technologies and AI to address patients’ needs and sustainability?
GA: We are fully aware that while we are experts in patient care, we are not experts in digital innovation. That is why we are embracing collaboration through our Center for Open Innovation and Competence. By partnering with others who are experts in digital technologies, we can bring valuable knowledge into our work and, ultimately, improve patient care.
For instance, developing products and conducting clinical studies in the pharmaceutical industry is traditionally very long. We are asking ourselves how to speed up these processes to deliver innovative solutions more efficiently to patients. AI is going to play a huge role in this. One example is using AI to expedite clinical studies and patient enrollment, making these processes faster and more effective.
Looking at the broader patient journey, we are also co-developing apps to help patients use treatments more effectively. These apps are easy to use but require patient education and training, so we focus on providing sessions to help patients get the most out of their therapies. This is also a step toward improving patient compliance, which is often an issue with many therapies.
Another area we are exploring is the concept of smart inhalers. By integrating technology into inhalers, we can improve patient compliance and track the performance of the treatment. Part of our vision is to provide patients with tools that help them manage their conditions more effectively.
Finally, we are working on a groundbreaking innovation: a digital twin of the lung. By using artificial intelligence to create a virtual model of the lung, we can predict how a drug will be distributed within the lung and, ultimately, assess the potential outcomes of the treatment for the patient. This technology has the potential to enhance personalized medicine and improve the precision of treatments significantly.
This digital twin technology, developed in partnership with the external company Quantica, is extremely promising and has the potential to revolutionize how we understand and treat respiratory conditions. It is an exciting step forward in personalizing treatments for patients, and we're optimistic about its future.
Looking further ahead, we are also considering an internal development: a digital twin of the patient rather than just the lung. If we can partner with others to develop this technology, it would enable us to predict how changes in therapy could affect a patient’s condition. There are already models out there that have a 70% precision rate, which is impressive. Imagine an AI-powered system that could tell us what would happen to a patient if we adjust their therapy. This would be based on vast amounts of data from millions of patient records, providing a super doctor-like capability that could predict outcomes with incredible accuracy.
This would not replace doctors—AI will never replace the human touch—but it would provide doctors with valuable insights based on data and experience. Doctors would be able to make more informed decisions, enhancing patient care. This concept of AI assisting doctors in their decision-making process is the exciting part of the innovation we are working toward. It is an evolving area that could significantly impact patient outcomes, speeding up and improving the precision of treatment decisions.
EF: What accomplishments at Chiesi are you most proud of so far, and what are you most excited about as you look toward celebrating the company’s 100th anniversary in the future?
GA: From a patient perspective, I am most proud of the fact that we are accelerating innovation and opening up new possibilities for progress. We have made significant investments, such as in the biotech sector, and just recently, we announced a €430 million investment over the next four years for a new plant in Italy, located in Nerviano in the northern part of the country. This is a major step forward for us.
We invested €400 million in carbon minimal inhalers, another €380 million in the new Biotech Center of Excellence in Parma, and a similar amount in collaborations to develop new products. For a company of our size, these are major investments. I am also proud of how much our impact on patients has grown, which is a testament to the dedication of our team.
Our level of investment in innovation, now 24%, is a significant increase from where we were in the past, reflecting our commitment. We have also been awarded the EcoVadis Platinum medal, which shows that we not only focus on our progress but also aim to involve our suppliers in the journey toward sustainability. The B Corp certification, first earned in 2019, is another important achievement, and I am especially proud that our people played a key role in helping us reach that milestone.
Equally important is that we have eliminated the gender pay gap in our company, which is a big point of pride. I am also proud that women represent a strong portion of leadership positions within the organization, with gender balance across the company.
Looking at how we have evolved, we’ve transitioned from being a successful European company to a truly global organization with a leadership team that is 70% non-Italian, bringing diverse global experience.
Despite the uncertainty and market pressures, we have managed to grow by double digits. I believe this resilience comes from two things: our strong sense of purpose and the amazing people who work with us.
