PALO ALTO, Calif., Nov. 8 /PRNewswire/ -- Frost & Sullivan is proud to present its 2005 Contract Manufacturing Company of the Year Award to Patheon for its concrete foundation and aggressive strategy for future growth. In addition to exceptional customer service and superior market growth skills, Patheon has developed innovative strategies to take advantage of market changes.
Each year, Frost & Sullivan presents this Award to a company that has exhibited excellence in all facets of operations within its industry including outstanding management, consistent growth, and positive social and economic impact on local and national communities as well as customers. The company has been selected based on numerous factors including the company’s business development, competitive strategy, and leadership within a particular Frost & Sullivan Industry Research Group (IRG).
Contract manufacturing of pharmaceuticals in North America is a $6.25 billion market forecast to grow at a compound annual growth rate of 10.5 percent from 2004 to 2011. With the sizeable investment required for manufacturing plants, contract manufacturing companies are emerging as the clear choice for outsourcing the manufacturing of both existing and new drugs, enabling pharmaceutical, biotechnology, and specialty companies to focus on research and sales and marketing.
As outsourcing of manufacturing becomes a common phenomenon across the industry, Patheon has anticipated the surge in demand and moved to the forefront of contract manufacturing, building a global manufacturing network through site acquisitions.
“Quality is a prime area of focus for Patheon and its acquisition strategies have focused on acquiring the best-quality manufacturing plants to provide best-in-class services to its customers,” says Frost & Sullivan Research Analyst Barath Shankar.
During the first three quarters of 2005, Patheon’s revenues from the manufacturing of prescription and over-the-counter (OTC) drugs were equivalent to a growth rate of 49.9 percent compared to the overall market growth rate of 9.9 percent.
Patheon currently owns and operates 14 manufacturing sites in North America and Europe, which the company has integrated into a network that enables them to manage their projects in a more efficient manner and cater to the respective local markets.
In addition, Patheon goes beyond offering just manufacturing solutions. It holds the distinction of being a fully integrated company that provides development, manufacturing, and packaging solutions to its clients, creating an immense value proposition unmatched by competitors.
“With the experience of manufacturing more than 750 products shipped to over 120 markets for companies from around the globe, Patheon is a contract manufacturing company with a truly global footprint and collaborating with Patheon has been, and will continue to be, a win-win situation for its customers,” concludes Barath Shankar.
Held in Miami, Frost & Sullivan’s Best Practices Awards Banquet honors world-class companies for contributing innovative developments to the pharmaceutical and life sciences industry, as well as companies yielding emerging technologies in a variety of fields. An annual event, the banquet recognizes the quality and merit of distinguished individuals and companies that deliver unparalleled insight on the industry, products and services.
About Patheon
Patheon (http://www.patheon.com ) is a leading global provider of drug development and manufacturing services to the international pharmaceutical industry. Patheon operates a network of 14 facilities in the United States, Canada and Europe, employing more than 5,900 people and serving a client base of 180 pharmaceutical and biotechnology companies.
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 & Sullivan
CONTACT: Stacie Jones of Frost & Sullivan, +1-210-247-2450, orStacie.jones@frost.com
