In reply to <a href="https://www.labiotech.eu/interview/biotech-industry-italy-sofinnova/#comment-114270">Labiotech.eu</a>. Dear Labiotech.eu, Yes, Chiesi and Zambon are two mid-sized companies, but they don't have enough monetary power (and the will) to start a campaign of M&A to consolidate the italian biopharma industry. Moreover, with the exception of Chiesi, which invested €340M in R&D (22% of 2016's revenue), Italian biopharma companies don't invest in R&D. This means they will never develop a so called blockbuster. This means they will always remain a group of good small-/mid-sized companies that manufacture drugs discovered and developed by others. We don't even have a big generic company, like Teva or Mylan... Maybe one day Italy will reach the level of other European countries, but all the stars must be aligned: Capital, right entrepreneurs, right management. Nevertheless, I have hope about Italy, exactly like Sofinnova.