Angelini Industries: Made in Italy, innovative, with a global vision

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Is it still possible for a family business to grow, become more competitive, diversify, internationalize and establish itself in highly innovative sectors by seeking new markets? Angelini Industries proves that the answer is yes.
Angelini is an Italian pharmaceutical company with a long history, whose medicines are common in Italian households: iconic brands are Tachipirina® and Moment®. In 2021, it decided to change its name to Angelini Industries, without losing its founding identity: the helm of the company is actually the fourth generation of the family, represented by Thea Paola Angelini, Executive Vice President of the Group, and Sergio Marullo di Condoianni, Chief Executive Officer.
But the new name is more than just a make-up. Angelini Industries is in line with the path the Group has taken over the years, with its presence in industrial technology and consumer goods, in addition to healthcare, and a renewed drive for innovation and growth. Growth has been fuelled by investments of more than 800 million euros in the last 4 years to strengthen historical businesses and open up new markets.
To achieve sustainable growth, Angelini Industries, inspired by the best corporate management standards, has adopted a new governance model that combines the presence of a strategically oriented industrial holding company – Angelini Holding SpA – with the autonomy and responsibility of controlled operating companies. Today, 5 of the 7 independent members are members of the parent company’s Board of Directors. The economic performance confirms our choice: in 2023 the Group achieved its best performance in history, with revenues of 2.1 billion euros, an increase of more than 25% compared to 2020, confirming the path of sustained growth. Of this, 57% was achieved by the Health Sector, 33% by FMCG and 10% by Industrial Technology.

Angelini Industries for the Pharmaceutical Market
Angelini Industries’ first investment line is to strengthen Angelini Pharma’s historic pharmaceutical business by acquiring commercial drugs in the OTC sector (i.e. over-the-counter drugs that do not require a medical prescription), the global rights to ThermaCare® (excluding North America), and the expansion of the central nervous system therapeutic area, in particular epilepsy.
Angelini Pharma has obtained exclusive marketing authorization in the European Union and other countries in the European Economic Area (including Switzerland and the United Kingdom) for the innovative anti-epileptic drug cenobamate approved by the European Medicines Agency (EMA) in 2021. With the launch in major European countries, Angelini Industries’ pharmaceutical business achieved revenues of 1,220.9 million euros in 2023 (up 3.5% from 2022), of which 49% came from international markets.
Furthermore, in May 2023, Angelini Pharma entered into an agreement with JCR Pharmaceuticals, an international pharmaceutical company founded 48 years ago in Japan and currently growing globally in the United States, Europe and Latin America, active in the research of rare and genetic diseases. The project involves an investment of up to $505.5 million for the development and commercialization of innovative biological therapies specifically for the treatment of epilepsy.

Business expansion into highly innovative areas
One of the keys to understanding Angelini Industries’ development in recent years is innovation. In the health sector, the Group launched its venture capital vehicle Angelini Ventures in October 2022, endowing €300 million to invest in start-ups and innovative biotech companies, aiming to contribute to the transformation of current care models. In 2023, Angelini Ventures invested in Cadence Neuroscience, a company developing continuous neurostimulation for the treatment of epilepsy; Freya Biosciences, operating in the European and American biotech sectors, conducting clinical research in women’s and reproductive health; Cour Pharmaceuticals, dedicated to nanotechnology treatments for autoimmune diseases such as type 1 diabetes and celiac disease; Noctrix Health, which has developed the first wearable technology device approved by the US Food and Drug Administration (FDA) for the treatment of “restless legs syndrome” and Avation Medical, a wearable, non-invasive neuromodulation system for the treatment of urinary incontinence caused by overactive bladder syndrome. At the beginning of 2024, we announced an investment in Nouscom, an Italian-Swiss startup dedicated to the development of anti-tumor vaccines.
In the field of industrial technology, the second leg of Angelini Industries’ growth, the Group acquired 100% of Fameccanica (now Angelini Technologies) in 2022 to fully exploit its potential. Angelini Technologies operates in two areas: “Conversion”, which is the manufacture of industrial machines in the hygiene sector (production of consumer products such as diapers and sanitary napkins), and robotics and industrial automation, mainly used in organized distribution logistics. E-commerce is a fast-growing industry in Europe and the United States.

Angelini Industries’ ESG Commitment
Last but not least, sustainability. From 2021, the Group will produce a sustainability report in which the impact of each activity on society, the environment, people and governance is measured and described. The Angelini Foundation, funded entirely by the Group’s profits, has in recent years financed various projects in the health and social fields, such as the creation of a pediatric palliative care centre at the Bambino Gesù paediatric hospital in Fiumicino, the care home “Casale Angelini” designed to provide free accommodation to patients treated at the AOU Ospedali Riuniti university hospital in Ancona, and the Restart Programme targeted at micro-enterprises in the Marche region most affected by the crisis.
Family businesses can still meet the challenges of this decade and the ones that follow if they adopt a visionary strategy and redirect their development towards new businesses, combining the ability to compete – even at an international level – with the capabilities of traditional businesses while doing good for the community and the planet.