Fidia Farmaceutici: revenues to reach €538 million in 2025, up 5.5% y/y
• Consolidated EBITDA at over €110 million (+12.9% y/y)
• Among the growing international regions: Europe (+17.7% y/y), MENA countries (+15.3% y/y) and the United States (+8.9% y/y)
• 41.7 million invested in R&D (+42.3% y/y)
• Three patents registered in Italy and 66 abroad, bringing the total number of patents to 1,522 as at 31.12.2025
Fidia Farmaceutici ended 2025 by strengthening its international market position, with a consolidated turnover of €538.3 million, up 5.5% y/y.
EBITDA, amounting to €110.1 million, recorded an increase of 12.9%, attributable to the rise in turnover and careful optimisation of management costs and operational activities, which have enabled the company to strengthen its overall efficiency and profitability.
The Group consolidates its growth trend with a CAGR of 11% for the period 2020–2025, rising from consolidated turnover of €319.6 million in 2020 to €538.3 million in 2025.
Acquisitions and significant events in 2025
During 2025, Fidia continued the strategic development path initiated in previous financial years, aimed at expanding its presence in key markets and therapeutic areas. Specifically, the Group acquired 100% of the share capital of Altacor Ltd, which is active in the distribution of ophthalmic products in the UK: a transaction that marked Fidia’s direct entry into the British ophthalmology market and represented a significant step forward in expanding operational capabilities and strengthening know-how in a key therapeutic area for the Group.
In the second half of the year, Fidia completed the acquisition of 100% of Meditrina Pharmaceuticals S.r.l., a company operating as a distributor in Romania and Moldova of medicinal products, medical devices and supplements in the gynaecology, urology and dermatology sectors.
In June 2025, the Group also inaugurated a new, innovative biological medicines production unit and a training centre for specialist training at its headquarters in Abano Terme, with the aim of expanding production capacity and implementing cutting-edge technological and training solutions.
Geographical Areas
The Group continues to strengthen its international presence through direct subsidiaries, distributors and M&A operations, recording an overall growth of +17.9% y/y.
All key areas are contributing positively: Europe +17.7%, driven by new acquisitions and development in Romania; MENA +15.3%, supported by portfolio expansion; USA +8.9%, thanks to organic growth in Joint Care and regenerative medicine products; Rest of the World +41.1%, driven by Indonesia and the UK, partly due to the acquisition of Altacor and new sales to distributors.
Research and Development
During 2025, 3 patents were registered in Italy and 66 abroad, reaching a total patent portfolio of approximately 1,522 patents as at 31.12.2025, of which approximately 1,259 focused on the production, therapeutic use and pharmaceutical compositions based on hyaluronic acid.
During the year, €41.7 million was invested in research and development, with an increase of €12.4 million over the previous year (+42.3% y/y).
In the R&D area, the Group focused its activities primarily on the development of processes and technologies based on hyaluronic acid and its derivatives, as well as on their chemical, physical and biological characterisation, with a focus on traditional business areas (in particular joint care, skin care and aesthetic care).
In the Joint Care area, clinical development was completed for a new HA-based product (Hymovis One), intended for the US market. The product, launched in December 2025, marks the entry of core products into the single-injection market, with expectations of significant growth in the coming years. Development continued on the Oncofid-P projects for the treatment of bladder cancer, with the Phase III clinical trial due to conclude in 2026, the Collagenase project for the treatment of Dupuytren’s contracture and Peyronie’s disease, and the HyCar project for the treatment of rheumatoid arthritis and osteoarthritis.
Human Resources
During the year, the Group reached 1,708 resources – of whom 1,291 in Italy and 417 abroad – representing an increase of 5.1%compared with 2024.
In 2025, initiatives supporting organisational change continued globally, with a particular focus on corporate values, diversity, equity and inclusion, as well as on strengthening the Group’s international outlook through the harmonisation of numerous processes and the development of systems.
“The 2025 results confirm solid growth, supported by significant investment activity and extraordinary operations. This trajectory has enabled us to consolidate our global market position and further strengthen our leadership in the pharmaceutical sector,” stated Carlo Pizzocaro, Chairman and Chief Executive Officer of Fidia Farmaceutici.
