US growth strategy pays off for Italy's FIS

02 October 2008 19:33  [Source: ICIS news]

FRANKFURT (ICIS news)--Italian fine chemicals company FIS (Fabbrica Italiana Sintetici) has rapidly expanded in the US, a strategy that created dramatic growth during the past few years, a company executive said on Thursday.

“We’ve been successfully adding small pharma as well as traditional big pharma to our portfolio,” said Stephen DeSalvo, US marketing manager, at the CPhI Worldwide trade show.

In 2001, when FIS first established an office in the US, sales there were negligible, he said. The company has steadily built its pipeline and reputation, however, and in 2007, the US accounted for 65% of the company’s revenues of $130m (€92m).

Europe contributed 19%, while Japan, another growth market, contributed 12.5%.

To support its growth strategy in the US, FIS has added a technical project manager and an account manager, bringing its US staff to three, DeSalvo said.

($1 = €0.71)

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By: Clay Boswell
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