Stevanato Group (NYSE: STVN), a global provider of drug containment and delivery solutions, announced its third-quarter 2024 earnings today, alongside key operational advancements at its new manufacturing facility in Fishers, Indiana. The facility, which recently launched commercial production, aims to enhance support for North American pharmaceutical clients and strengthen supply chain resilience.

The Fishers site, designed for high-speed manufacturing, completed the installation of a second high-speed production line and has begun validation activities with key customers, set to continue through the end of 2024. The firm says these developments underscore Stevanato’s commitment to expanding its capacity for high-value solutions in the region.

For the third quarter, Stevanato Group reported a 2% year-over-year increase in revenue, totaling €277.9 million, with high-value solutions contributing 36% of total revenue.

While Stevanato maintained its 2024 revenue guidance of €1,090 million to €1,110 million, it adjusted its profit forecasts to reflect current operating costs.

This latest expansion in Indiana marks a significant milestone for Stevanato Group, reinforcing its position in the North American market and, according to the company,  enhancing its manufacturing footprint to meet increasing demand.