Corning and Stevanato Group Enter New Agreement to Supply New Corning Valor™ Glass to the Pharmaceutical Packaging Market

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Corning and Stevanato Group Enter New Agreement to Supply New Corning Valor™ Glass

Corning and Stevanato Group Enter New Agreement

News Releases
Pharmaceutical Technologies
Corning and Stevanato Group Enter New Agreement to Supply New Corning Valor™ Glass to the Pharmaceutical Packaging Market
Corning and Stevanato Group Enter New Agreement to Supply New Corning Valor™ Glass to the Pharmaceutical Packaging Market
CORNING, N.Y., and PIOMBINO, DESE, PADUA, Italy | Corning Incorporated | July 25, 2017
Remarkable glass innovation enables enhanced quality parenteral packaging

Corning Incorporated (NYSE: GLW) and Stevanato Group announced today a new collaboration agreement focused on supplying Corning Valor™ Glass to the pharmaceutical industry.

Valor Glass is a high-quality glass container designed for the storage and delivery of injectable drugs. Drug formulations and drug manufacturing processes have evolved significantly over the past century, requiring a stronger, chemically durable, 21st century packaging technology to better protect drug products, including life-saving medicines.

Valor Glass offers superior chemical durability, strength, and damage resistance, resulting in better protection for drug products. Valor Glass enables increased throughput and higher levels of quality assurance for pharmaceutical companies, and higher-quality medicines for patients.

Corning and Stevanato Group have been working together since 2011 to enable higher quality pharmaceutical containers. The latest agreement extends that relationship and combines Stevanato’s state-of-the-art converting technology with Valor Glass to provide pharmaceutical customers with the highest quality pharmaceutical containers.

Franco Stevanato, chief executive officer of Stevanato Group, commented: “Corning and Stevanato Group have a shared commitment to innovation and bringing the highest quality pharmaceutical containers to the industry. Valor is a glass well aligned with that shared commitment and we are delighted to be working together on it.”

“Stevanato Group is well respected in this industry because they ensure the highest standards of quality and innovation throughout their production process. We look forward to continuing this work with Stevanato Group to improve quality in the pharmaceutical glass packaging industry,” said Ron Verkleeren, vice president and general manager, Corning Pharmaceutical Technologies.

Forward-Looking and Cautionary Statements

This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.

Digital Media Disclosure

In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it intends to use its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.

About Stevanato Group

Founded in 1949, Stevanato Group is committed to create systems, processes and services that guarantee the integrity of parenteral medicines. It comprises two operational divisions dedicated to serve the pharmaceutical industry: Pharmaceutical Systems with Ompi specialized in glass primary packaging and Balda, focused on specialty plastics and delivery devices; Engineering Systems with Spami, Optrel, InnoScan and SVM, specialized in glass processing, inspection systems, assembly and packaging solutions.  www.stevanatogroup.com 

About Corning Incorporated

Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 166-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramics science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.

Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.