Stevanato Group, a drug containment and delivery solutions provider headquartered in Italy, announced it has secured €200 million (approximately $218 million) in financing to support its ongoing capital expansion projects in Cisterna di Latina, Italy, and Fishers, Indiana.
According to the company, €50 million will be used to expand production of pre-filled syringes and enable future cartridge manufacturing capacity in Cisterna di Latina, while the remainder of funds will support syringe production in both Italy and Indiana, as well as the buildout of device manufacturing capacity at the Fishers site.
Stevanato recently completed the first phase of construction at its Fishers facility, with a second phase now underway. Once completed, the Indiana site is expected to support up to 200 million units of pre-sterilized EZ-fill syringes annually, the company said.
The company said these investments aim to enable customers to meet biopharmaceutical program objectives through integrated solutions across the value chain.