Chairmen’s Statement

Chiesi Farmaceutici started in Parma, Italy, in 1935 as a small laboratory with just two employees, thanksto an intuition of our father Giacomo. Inover 80 years of history, during which three generations of the Chiesi family have succeeded one another, the company, despite remaining firmly established in Italy, is today an international pharmaceutical Group. The Group employs 5,318 people (500 more than 2016) and focuses its activities on the research, development, production and marketing of therapeutic solutions, developing successful drugs for its therapeutic areas: respiratory, neonatology, special care and rare diseases.

In the Italian and international pharmaceutical panorama, Chiesi is now positioned as an entrepreneurial reality with a strong vocation for innovation and research. This commitment of the company is achieved with the development of therapeutic solutions able to improve the quality of life and the health of people.

The Group can also count on a high- profile entrepreneurial team, which constantly strives to achieve results in compliance with ethical and social responsibility values, which guide the activities of all the Group's affiliates.

Chiesi has formed a number of commercial and research and development partnerships, both nationally and internationally, achieving innovative results on regenerative medicine, recombinant enzymes, and in the prevention of organ transplant rejection.

The Group is led by the Chiesi family. The founding father Giacomo Chiesi has succeeded his sons Alberto - now President - and Paolo - Vice President and R&D Director. With them began a process of continuous expansion and internationalization that was achieved with the opening in Brazil of the first foreign office in the late seventies. Today the Group can count on the skills of the third generation Chiesi, the sons of Alberto and Paolo - Alessandro, Andrea, Giacomo and Maria Paola - and makes use of the guidance of Ugo Di Francesco, CEO.

2017 FOR THE CHIESI GROUP

The year 2017 has seen the forward, parallel march of five important company realities in Chiesi Group: sales turnover, the launch of new products, international expansion, Research and Development and Corporate Development activities, the numerical and professional growth of our people.

We will continue to invest in research at a high rate, to strengthen our presence in the respiratory field, and to continue to grow in Special Care and Rare Diseases. Together with careful management with the aim of ensuring the necessary funds to invest in Research and Business Development, we want to continue working to improve the working conditions of our people, to develop the talents we have available, to ensure adequate succession plans in all strategic positions in the company.

It is important to understand how the pharmaceutical scenario will evolve to make the right decisions. We believe that the international scenario in which we operate is moving with great rapidity, towards objectives that are partly unpredictable only a few years ago.


Here are some new situations in which we are already moving:


"Big Data" and "Personalized Medicine”

● New therapeutic horizons (Advanced Therapy Medicines)

A new concept of "drugs": medicines will no longer be considered just a product, but part of a more complex and integrated treatment process, together with precision diagnostics, "devices" and assistance services.

Digital Transformation / Industria 4.0

● Globalization


The effort we are making is to understand, as quickly as possible, how we can move, in a careful and conscious way, but decisively, to remain competitive in these "new horizons". The effort requires clarity, pro-activity and team spirit, to choose and operate in such a way as to ensure sustainable development of the company. These evaluations and choices require the participation and joint effort of all our people, each according to their role, to help us understand what is important to do and how to do it in the best way.

We believe that in 2017 we took an important step in the right direction to be competitive in the future. We hope that in 2018, with the launch of Trimbow and new products for special care and rare diseases, we will take another step even more decisive.

Our "polar star" is our ability to be involved, informed and proactive in the new trends that are emerging in the market. The weapon that will allow us to grow in a sustainable way is the excellence of everyone and of each one, together with a unity of purpose and a great team spirit. Our people are always at the center of what we do.

Alberto Chiesi

President


Paolo Chiesi

Vice President and Head of R&D