 |
Life Sciences Cos. Sweep Top Three Places in Deloitte's 2008 Greater Philadelphia Fast 50 Demonstrating the strength of the life sciences industry in the region, ViroPharma Incorporated, Globus Medical, Inc. and Auxilium Pharmaceuticals Inc. ranked Nos. 1–3 in Deloitte's 2008 Greater Philadelphia Fast 50. ViroPharma, of Exton, Penn., recorded a five-year revenue growth figure of 12,541 percent, while Globus Medical, in Audubon, Penn., scored revenue growth of 10,142 percent and Auxilium Pharmaceuticals, of Malvern, Penn, came in with revenue growth of 985 percent. Fully 30 percent of the 2008 Fast 50 companies are in life sciences, up from 28 percent in 2007. The region's 50 fastest-growing technology, life sciences and now green, technology companies were recognized at an awards ceremony held October 30 at the headquarters of Urban Outfitters, Inc., at the Philadelphia Navy Yard. The Deloitte Greater Philadelphia Fast 50, now in its 12th year, ranks technology, media, telecommunications, life sciences and green technology companies in the region by percentage revenue growth over five years. “Deloitte's Greater Philadelphia Fast 50 companies have shown the strength, vision and tenacity to succeed in today's very competitive technology environment,” said Mike Purcell, partner, Deloitte & Touche LLP and co-leader of the Greater Philadelphia Fast 50 Program. “We applaud the successes of the 2008 Fast 50 companies and acknowledge them as the few to accomplish such a high growth rate over the past five years.” “The life sciences companies on this year's Fast 50 list are shining examples of how the pharmaceutical and biotech industries continue to drive economic growth in the region and how their presence supports many other local industries,” said Fast 50 co-leader R. Terry Hisey, vice chairman, Life Sciences, Deloitte LLP. Software companies AirClic, Trevose, Penn., and Beyond.com, King of Prussia, Penn., ranked Nos. 4 and 5 on the 2008 list, with 962 percent and 954 percent revenue growth, respectively. Rounding out the Top 10 in the Fast 50 are: Lattice Incorporated, Pennsauken, N.J.; TMG Health, Inc., King of Prussia; AppLabs, Inc., Philadelphia; QlikTech International AB, Radnor, Penn.; and MTI Information Technologies, Langhorne, Penn. The average five-year revenue growth of the entire Fast 50 in 2008 was 773 percent, up slightly from 736 percent in 2007. For the first time, companies from Southern New Jersey qualified for the Fast 50, and six companies earned placement led by Lattice at No. 6, with 921 percent revenue growth. Twelve companies are new to the Fast 50 in 2008. Alphabetically they are: Adaptik Corporation, Akers Biosciences, Inc., Cadient Group, Dynasil Corporation of America, Futura Services, Inc., Lattice Incorporated, MCA Solutions, MTI Information Technologies, New Way Air Bearings, PayChoice, PuriCore and West Pharmaceutical Services, Inc. Achieving a Fast 50 ranking requires strong revenue growth over five years, yet remarkably some companies have sustained this rate of growth much longer. This year the Fast 50 welcomes back an 11-time winner, Lannett Company, Inc, Philadelphia; two nine-time winners – Escalon Medical Corp., Wayne, Penn. and Fraser, Penn.-based Cephalon, Inc.; and three eight-time winners – OraSure Technologies, Inc., Bethlehem, Penn., Orthovita Inc., Malvern, Penn., and PhotoMedex Inc., Montgomeryville, Penn. Another repeat trend from 2007 is the existence of a strong technology cluster in and around King of Prussia, home to 22 companies in the 2008 Fast 50. Selection criteria: Companies are selected based on percentage revenue growth over five years from 2003 to 2007. To be considered, Technology Fast 50 entrants must: have operating revenues of at least $50,000 in 2003 and at least $5,000,000 in 2007; be headquartered in Greater Philadelphia; own proprietary technology or proprietary intellectual property that contributes to a significant portion of their operating revenues, or devote a significant proportion of revenues to the research and development of technology. Using other companies' technology or intellectual property in a unique way does not qualify. Subsidiaries and divisions are not eligible, unless they have some public ownership and are separately traded. |
|
