TraceLink Reports Q1 2015 YoY Revenue Increase of 118%
TraceLink Inc., the world’s largest track and trace network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced YoY revenue growth of 118% for the first quarter of 2015. The company’s strong revenue performance continues to be driven by global pharmaceutical companies choosing its Life Sciences Cloud platform to meet a broad range of regulatory track and trace deadlines in the United States, China, Brazil, South Korea, India, and the European Union. New customer wins for the first quarter, which included large global pharmaceutical manufacturers, wholesale distributors, pharmacy chains and hospitals, have contributed to the company’s two-year revenue compound annual growth rate (CAGR) of 103%, up 13% from Q4 2014.
“Our Q1 results demonstrate that the global transformation in Life Sciences is just starting to gain momentum,” said Shabbir Dahod, president and CEO of TraceLink. “We're now seeing a shift in investment decisions as pharmaceutical companies turn their attention toward addressing the wide range of global serialization requirements that phase in over the next 18-24 months. Some of the big operational challenges they face include coordinating line upgrades with hundreds of contract manufacturers, processing massive amounts of serial number data associated with very large product volumes, and efficiently sharing compliance information with all of their supply chain partners—as well as the government agencies that require it. The Life Sciences Cloud allows any pharma company to securely integrate and interoperate with all of its suppliers with just a single network connection, while at the same time, providing the processing elasticity to handle tens of billions of data transactions in a moment’s notice. No other company offers a platform with these capabilities.”
TraceLink achieved a range of other significant growth milestones in Q1 2015, including:
- Expanding the Life Sciences Cloud network to include more than 131,000 pharmaceutical supply chain members—allowing manufacturers, distributors and dispensers to establish business relationships, exchange compliance information and share business processes;
- Prepping more than 280 contract manufacturing organizations (CMOs) for integration to the Life Sciences Cloud—to gear up TraceLink customers’ production lines for serialization;
- Processing nearly 2 billion cumulative serialization events—for pharmaceutical manufacturers that are already serializing products in global markets such as China, South Korea, Turkey, India, and the United States;
- Processing more than 3.5 million cumulative Transaction Histories for US DSCSA lot-level compliance—a 75% increase over Q4 2014; and,
- Relocating the company’s global headquarters to a newly renovated 30,000 square foot location in North Reading, MA—to accommodate a 300% increase in staff over the past 15 months.
To learn more about meeting global pharmaceutical compliance deadlines designed to combat drug counterfeiting, and how to build a flexible global serialization, track and trace, and reporting platform for Brazil, China and other countries, visit www.tracelink.com.