Company stories
The United States represents a milestone in the family's and the company's history
“We arrived in China in 1988, where we were the first to introduce non-ionic contrast agents through a Hong Kong distributor, as was the usual practice at the time,” remembers Diana Bracco. “Not in large quantities, but the gradual opening of China’s economy encouraged us early on to significantly increase our presence there. At the end of the 1990s, in fact, the rapid improvement in the standard of living in coastal populations – around 250 million people – the cultural and professional evolution of the medical community and the emergence of welfare systems, convinced us that it was the right time to open an office in Beijing.”
The inauguration took place in 2000 at a grand event held at the Swissotel – a move that allowed Bracco to establish and reinforce contacts with institutional figures who would later be instrumental to the creation of a joint venture. On 30 June 2001, while continuing to use the local distributor in accordance with Chinese regulations, Bracco created its own sales network to promote its contrast media, beginning with Iopamidol, composed of 26 agents. This ushered in a period of steady growth.
The next step – which had always been the long-term goal – was to form a partnership with a key local operator, as had already been done in Japan. “We visited many companies but with Sine Pharmaceutical, a prestigious business in the Chinese chemical and pharmaceutical industry, we had a good rapport straight away,” recalls Marco Rabuffi, the top manager who had accompanied Diana Bracco throughout the process of making the Group a multinational, from Switzerland to Germany, from the partnership with Eisai in Japan to the creation of BDI in the USA. “The job took me all over the world,” continues Rabuffi, “sometimes at challenging moments, like in 1994 when I broke my ankle and was frequently going from Milan to New York in a wheelchair to finalize the Squibb Diagnostics acquisition.”
A joint venture was therefore established between Sine and Bracco, with Bracco as majority shareholder still today (70%). “Regardless, we treated the relationship as one of equals, based on shared values like harmony, loyalty, balance and reciprocity – an approach that fostered appreciation and credibility,” says Diana Bracco. A large delegation made up of the President, Vice President and General Manager of Sine, the Vice President of Shanghai Pharmaceutical Group Corporation and various figures from the Shanghai community landed in Milan on 16 October 2000 to better know the Bracco Group and its production site in Ceriano Laghetto. The formal occasion was a chance to define every detail of the future collaboration, which was then naturally presented to the People’s Republic of China for approval.
The real achievement of the joint venture, signed in 2001, came in the following years with the opening of a large 2000-square-meter plant located in the hi-tech Pudong district. “I have fond memories of the Italian delegation’s visit on 6 June 2004, an exciting time for everyone,” says Rabuffi. “After the inauguration, our departure was met with a stream of party confetti and decorations, a Chinese tradition. Also present were the Minister of Industry, Antonio Marzano, the President of the Italian Trade Agency (ICE), Beniamino Quintieri, and Secretary General of the Farnesina (Ministry of Foreign Affairs), Umberto Vattani.”
Over the years, Bracco, beyond a commercial and manufacturing presence, has also been able to build a strong relationship with the medical, scientific and university communities as well as with local institutions. Collaborations with research centers and the most advanced hospitals have been launched, including a focus on training with a multi-year scholarship program for young Chinese radiologists, which continues today.
The ties between Italy and China have a solid historical and cultural foundation. A beautiful example was the extraordinary concert by the Teatro alla Scala Philharmonic, held 17 September 2010 in Shanghai to celebrate the Universal Exposition, possible thanks in part to support from the Bracco Group. Thousands of Chinese spectators enthusiastically sang arias by Verdi and Puccini.
The happy “marriage” of Bracco Sine was renewed for twenty more years on 16 December 2016: “Today’s signing is an important step towards the future, and further strengthens our position in one of the most strategic geographical areas, considering that China is now our second most important market after the USA” stated Fulvio Renoldi Bracco at the time, in the presence of Gu Haoling, Vice President of Shanghai Pharmaceuticals Holding, Cho Man, President and CEO of Shanghai Pharmaceuticals Holding and Ettore Sequi, Italy’s Ambassador to the People’s Republic. “The agreement outlines a stronger focus on local needs, including work on contrast agents for ultrasound, an innovative imaging modality with a high potential for widespread use since it is well-liked by Chinese hospitals.”
The People’s Republic of China was one of the great bets by Bracco that has paid off, ahead of schedule. The rapid growth of Bracco Sine Pharmaceutical is proof, led today by Valtero Canepa, who has recently opened a small research laboratory in Shanghai and has created Bracco Imaging Medical Technologies, enhancing the company’s market presence with the commercialization of injectors. “Contributing to China’s growth has been an honor for an Italian family-owned company,” underlines Diana Bracco, “and also an intriguing challenge for us, which continues today with the creation of another key manufacturing site capable of meeting the continuous expansion of the market in Southeast Asia. Our mission is to improve the standard of living for the Chinese people by providing ever more accurate preventive care for patients and doctors through our contrast agents for all modalities, beginning with ultrasound.”
