PALO ALTO, Calif., Dec. 7 /PRNewswire/ -- Frost & Sullivan selected Invitrogen Corporation as the recipient of the 2005 Drug Discovery Technologies Company of the Year Award for showing great resourcefulness in penetrating the new drug discovery technology markets with exceptional marketing strategy and resulting in revenue growth.
Each year, Frost & Sullivan presents this Award to a company that has exhibited excellence in all operations -- business development, competitive strategy and leadership -- within a particular Frost & Sullivan industry research group. This Award lauds outstanding management, consistent growth, and positive social and economic impact on local and national communities and customers.
Invitrogen, with the help of an accomplished management team, has strategically targeted opportunities for penetration of new markets and has successfully broadened its portfolio of products and services through innovative in-house development and acquisitions. In the last two years, Invitrogen has expanded into RNAi technologies with the BLOCK-iT(TM) and Stealth(TM) lines of RNAi products.
"Invitrogen has advanced its position as a premiere provider of products and services essential to life sciences research and biopharmaceutical production," says Frost & Sullivan Research Analyst Jonathan Witonsky. "With a market strategy focused on expansion, Invitrogen has strengthened its reputation as an industry leader by enhancing its full spectrum of offerings."
The company was also the first-to-market with a breakthrough protein microarray technology -- the ProtoArray(TM) line of protein microarrays. It introduced significant product developments in the proteomics segment with the release of the SILAC protein identification and quantification labeling technology. More recently, the launch of wide format gels for protein electrophoresis and the NCode(TM) miRNA microarray platform complement its extensive list of product developments.
Invitrogen, with significant strategic acquisitions aimed at expanding into areas of commercial bioproduction and testing services, now showcases Gibco, Molecular Probes, Dynal, BioReliance, BioSource International, ZYMED, CALTAG and Quantum Dot products and services. These acquisitions bolster the company's market potential to enter new markets such as cell culture systems, detection technologies, immunodetection, and proteomics.
"With co-marketing and licensing agreements, Invitrogen has teamed up with companies such as Agilent, Applied Biosystems, and Illumina to combine technology, distribution, and marketing strengths," notes Witonsky. "Invitrogen is also collaborating with top researchers from institutions such as Mayo Clinic, the Scripps Research Institute, and the National Institutes of Health to continue driving innovation and discovery."
Invitrogen has expanded globally by opening a cGMP manufacturing facility in Australia and increasing its presence in the Asia Pacific, particularly in China and India. Invitrogen's successful market strategy is evident in its unprecedented revenue growth of over 31 percent in 2004. Invitrogen expects a 16 percent revenue growth in 2005 due to its additional acquisitions and organic growth as well as the increasing sales of its existing technologies.
Frost & Sullivan presents the 2005 Drug Discovery Technologies Company of the Year Award to Invitrogen Corporation for providing innovative and enabling support technologies in the drug discovery forum.
About Invitrogen Corporation
Invitrogen Corporation provides products and services that support academic and government research institutions and pharmaceutical and biotech companies worldwide in their efforts to improve the human condition. The company provides essential life science technologies for disease research, drug discovery, and commercial bioproduction. Invitrogen's own research and development efforts are focused on breakthrough innovation in all major areas of biological discovery including functional genomics, proteomics, bioinformatics and cell biology -- placing Invitrogen's products in nearly every major laboratory in the world. Founded in 1987, Invitrogen is headquartered in Carlsbad, California, and conducts business in more than 70 countries around the world. The company globally employs approximately 4,800 scientists and other professionals and had revenues of more than $1 billion in 2004. For more information, visit http://www.invitrogen.com .
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com .
Contact: Stacie Jones 210.247.2450 Stacie.jones@frost.com
Frost & SullivanCONTACT: Stacie Jones of Frost & Sullivan, +1-210-247-2450, orStacie.jones@frost.com
