Stevanato Group seeing early success with commercial production in Fishers
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FISHERS, Ind. - Business is booming at the new Stevanato Group production facility in Fishers.
What was originally a $150 million project grew to $500 million based on exploding demand. The Italy-based life sciences company makes glass vials and syringes for pharmaceuticals.
“We saw an increase of demand that was very important, and so we sped up the process and we stepped in with additional investment,” Alessandro Zannini, sales director of the engineering division for Stevanato, said. “Since the last quarter of last year we’ve been able to deliver product to our customers, and that was a major milestone we’re very proud to have reached.”
Business of Health Reporter Kylie Veleta got an up-close look at the production lines. There’s a massive demand for the company’s glass syringes, which are used for GLP-1 and insulin products, the company said.
“The GLP-1 drug speaks for itself, for the growth that it has had and the impact that it has on life,” Zannini said. “The increase of demand of syringes is good news for Stevanato, but we are happy to think that is good news for the end users that they have a new partner in town that is able to sustain and to deliver the products when they need it.”
While glass syringes may not seem high-tech, Stevanato shatters that perception. The drugs that will go inside are like liquid gold, so the tiny containers must be sterile and sized to the most exact standards.
“There is a lot of technology of quality control,” Zannini said. “Being able to manufacture them locally also helps the customer have a very close proximity to the manufacturing and so we reduce the time to market drastically.”
Stevanato Group employs some 4,300 people around the world and has U.S. locations in California, Pennsylvania and Massachusetts. Zannini says the company chose Fishers because of local government support, talent in the area and collaboration with nearby universities.
In addition to manufacturing, the Fishers facility supports all of the company’s product lines and is the North American headquarters for part service.
“We already have an eye on the future with the possibility of further expansion of this facility…[and] also expanding to different products,” Zannini said. “We are just touching the beginning of our experience here.”
Stevanato has committed to paying employees an average annual salary of no less than $70,000.
Stevanato’s future plans include adding syringe machines as well as glass vial forming machines. Currently, Stevanato employs about 100 people but expects to have around 500 when the plant is at full production in about two years.