NORTH READING, MA--(Marketwired - Oct 28, 2015) - 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 financial results for the third quarter 2015. Growth highlights for the quarter include:
- A year-to-date revenue increase of 92 percent over the same period in 2014;
- An 81 percent revenue increase year-over-year;
- A two-year revenue CAGR of 113 percent, up from 70 percent in Q3 2014;
- A 93 percent increase in customers year-to-date; and,
- A 133 percent increase in employee growth year-over-year, with 19 percent of 2015 new hires in local international markets.
"We continue to experience widespread adoption of our solutions. As pharmaceutical companies, CMOs, wholesale distributors, and dispensers evaluate their options for compliance, most recognize that the Life Sciences Cloud offers the widest range of integrated, out-of-the-box drug traceability solutions that require the least amount of cost, implementation time, and risk," said Shabbir Dahod, president and CEO of TraceLink. "While other companies provide point solutions for compliance, TraceLink is the only company transforming the global pharmaceutical supply chain into an end-to-end digital network. With nearly 200,000 pharmaceutical suppliers exchanging compliance data on the Life Sciences Cloud, we're seeing a dramatic increase in the number of companies seeking our solutions once they learn that 90 percent of their suppliers, or greater, are already on the TraceLink network."
Additional growth highlights for the third quarter include:
- Protecting more than 1 billion drug products moving through the global supply chain -- a 48 percent increase over Q2 2015;
- Processing 23.3 million Transaction Histories for US DSCSA lot-level compliance in Q3 -- a 135 percent increase over the 9.9 million Transaction Histories processed in Q2 2015;
- Processing more than 156 million serialization events in Q3 for pharmaceutical products in China, South Korea, Turkey, India, and the US -- bringing the cumulative total of serialized events processed by TraceLink at the close of Q3 to 2.3 billion; and,
- Integrating more than 521 suppliers into the Life Sciences Cloud to replace paper compliance workflows with end-to-end data exchange between trade partners -- a 24 percent increase in integrated suppliers over Q2 2015.
To learn more about meeting global pharmaceutical compliance deadlines and how to build a flexible serialization, track and trace, and reporting platform for the US, the EU, China, Brazil, Germany, South Korea, India, Turkey, Argentina and other countries, please visit www.tracelink.com.
TraceLink is the world's largest track and trace network for connecting the Life Sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace. Leading businesses, including 16 of the top-20 global pharmaceutical companies, trust the TraceLink Life Sciences Cloud to deliver complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. A winner of numerous industry awards including the Amazon AWS Global Start-Up Challenge Grand Prize and the Edison Award for Innovation in Health Management, the TraceLink Life Sciences Cloud is used by businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com or follow us on LinkedIn, Twitter and Facebook.