Stevanato Group S.p.A. delivered second-quarter results reflecting broad-based growth across its pharmaceutical and diagnostic solutions portfolio. Total company revenue expanded 8%, with the Biopharmaceutical and Diagnostic Solutions segment advancing 9%, while the Engineering division experienced a modest contraction. High-value solutions, which now comprise 45% of total revenue, posted accelerated growth of 16% year-over-year, supported by a 30% increase in biologics demand.
The company completed the divestiture of its Balda C. Brewer subsidiary to streamline operations and redirect capital toward complex, integrated drug delivery systems. This transaction generated a one-time expense of EUR 12.2 million and is expected to create a EUR 15 million revenue headwind for the full fiscal year. Additionally, the effective tax rate is projected to rise to 28.2% due to the expiration of Italian tax incentives and impacts from the divestiture, though currency headwinds were revised favorably to EUR 10 million from an initial EUR 18 million estimate.
A significant achievement involved regulatory approval of the proprietary Alina variable dose pen platform in several European markets for liraglutide-based therapies, validated after eight years of research and development. The platform represents a transition toward proprietary intellectual property in advanced drug delivery. Management anticipates North American regulatory approvals in late 2026 and projects double-digit revenue growth from the platform in coming years. The Engineering segment demonstrated operational stabilization with gross margins expanding 540 basis points through business optimization initiatives and portfolio refinement.
Management raised full-year 2026 revenue guidance to EUR 1.260 billion to EUR 1.280 billion, with high-value solutions expected to reach 47% to 48% of total revenue. This projection reflects sustained momentum in biologics and GLP-1 therapies, which currently represent approximately 22% to 23% of company revenue. The Fishers facility remains on track for commercial production later this year, with full operational ramp-up expected by the end of 2028. The next-generation RTU 400 cartridge line in Latina is scheduled for installation in the coming months, targeting commercial production in 2027. Management characterized the GLP-1 market opportunity as substantial, with current patient penetration below 10% of a 1.5 billion addressable population.
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