In an interview with l’Economia del Corriere, the past, present and future of his Group
“The internationalization of the group dates back to the last few decades. Today we are present on the markets of over one hundred countries, while in the past it was difficult to leave Italy. Here, I believe that this is the distinctive trait of the part traveled more recently”. The entrepreneur Diana Braccointerviewed by the Economics of the Corriere, traces the 95 years of activity of her group starting from here.
This marked internationalization process has materialized with some decisive choices. “I like to mention that in 1994 we acquired Squibb Diagnostics of Princeton, New Jersey from Bristol Myers Squibb. While more recently we divested our entire pharmaceuticals, including some well-known over-the-counter specialties, to focus our business. on contrast media “. Bracco speaks of this transition as “a strategic choice of great value, which has led us to be world leaders in the contrast media sector. Today we control one third of the world market in the X-ray contrast media sector and in the United States. in the last year we have grown by 47 percent, in China by 37 percent “.
What the foreign markets represented. “First of all, an increase in opportunities. Then, if I think of the American FDA, the regulatory body, this represented the need to considerably raise the quality bar of our products. Now even the national and European organizations have very high standards”.
The secret to staying competitive. “In cases such as that of Bracco, the company introjects the soul of the family. If this spirit is shared with the collaborators, the family businesses have an important competitive advantage even over larger groups. This is also why we have created the digital historical archive, to give a sign of identity even to those who work for us many kilometers from Milan “.
The risk of crisis in the generational change. “This is not our case. I represent the third generation and have been in the company for many years, where I took over from my father. But the fourth generation is ready, with Fulvio Renoldi Bracco, my sister’s son. The secret is this: the succession line must be clear “.
The Stock Exchange hypothesis. “Years ago we were very close to the listing. We were ready. Then sudden market reversals blocked everything. It was a blessing, luckily we didn’t get listed. So we are freer, less tied to the quarterly results, more masters than ours. However, the process of rapprochement has served us: we have maintained the structure we had created, we have also grown through this path “.
Recession and future risk. “The income impact will not be insignificant also for Bracco. This spurs us to a more rigid management of expenses, in order to guarantee the necessary resources to continue with the investment plan. Our strategy for the next few years focuses on 5 programs fundamentals: strengthen the radiology business, adopt measures to optimize and rationalize production processes, expand our growth platforms (molecular imaging, Ceus / microbubbles, medical devices), excel in emerging markets and accelerate digital transformation “.
The advice to young people. “First of all: never give up. Then, things must not be done because everyone does them, but because they are needed. Skills must be taken care of and at the same time, new sectors and new markets must be explored as soon as possible. success. Whether it is products or processes. Innovation is not disregarded “.