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Fastest Growing Pharmaceutical Companies

Smaller pharmas grow by emphasizing tight niche markets.

By

Inc. Magazine ranks America's fastest growing private companies based on revenue growth over the past three years. Several young, entrepreneurial pharmaceutical companies made the magazine's Top 500 or Top 5,000 cut in 2013. But even more IT and consulting companies that support pharmas are on the list.

US WorldMeds

US WorldMeds, ranked No. 945, is a specialty pharmaceutical company based in Louisville, Kentucky. Its marketed products include treatments for malignant hyperthermia, cervical dystonia, and hypomobility in Parkinson's disease. In its pipeline: a drug for reducing opiate withdrawal symptoms. The company grew 460 percent over a 3-year period, from $13.2 million in 2009 to $74.1 million in 2012.

Elorac Inc.

Elorac Inc., a specialty pharmaceutical company based in Vernon Hills, IL, develops and markets novel drug products for the U.S. dermatology and oncology drug markets. It was No. 1 on the list among U.S. pharmaceutical companies. It has a topical psoriasis treatment on the market and received orphan drug status to develop a naloxone lotion for itching associated with T-cell lymphoma. Elorac's 2012 sales were $6.1 million, up from $456,000 in 2009.

Pacira Pharmaceuticals, Inc.

Pacira Pharmaceuticals, Inc., Parsippany, NJ, is a specialty pharmaceutical company developing non-opioid products for managing post-surgical pain. Products include DepoCyt(e) an injectable, sustained-release form of cytarabine for the treatment of lymphomatous meningitis, and Exparel, a local analgesic. It also developed DepoFoam, a novel drug delivery method which encapsulates drugs and then releases them over a set time period ranging from 1 to 30 days. Pacira's revenues grew from $8.3 million in 2007 to $14.6 million in 2010.

Putney

Putney, a Portland, Maine-based generic pet pharmaceutical company, ranked No. 2,043. Its 2012 revenues were $19.2 million, an increase of 183 percent over 2009.

RELATED INDUSTRIES

The list also includes several companies – mainly information technology enterprises – engaged in supporting pharmaceutical development and sales including:

Vets First Choice

Vets First Choice, Portland, Maine, an online veterinary partner-pharmacy and marketing service provider, was ranked the 24th fastest growing company in the United States and the nation's fastest growing business services provider. It provides home delivery of FDA approved pharmaceuticals, therapeutic diets and compounded medications to pet owners on behalf of veterinary practices. The company grew 8,585 per cent between 2009 and 2012 to reach $14.6 million in revenues.

Clinipace Worldwide

Clinipace Worldwide, No. 499 on the list, is a contract research organization (CRO) based in Morrisville, xx, that conduct trials of experimental drugs for pharmaceutical and biotechnology companies. Clinipace's revenue leaped to $51.9 million in 2012 from $5.1 million in 2009.

Integrated Prescription Management

Integrated Prescription Management, Fresno, CA, ranked No. 380, is a prescription benefit manager. It provides services for employers, third-party administrators and brokers. The company grew from $4.2 million in 2009, its first year of operation, to $53.1 million in 2012, an increase of 1,167 percent.

Noble Rx Marketing

Noble Rx Marketing of Orlando, FL, develops educational marketing materials geared for patients and healthcare professionals on behalf of biotechs and pharmas. Its revenue grew from $3.6 million in 2009 to $11.7 million in 2012 and it was ranked at No. 1716.

Greenphire

Greenphire, headquartered in King of Prussia, PA, and ranked No. 191, develops and manages proprietary payment technologies for the clinical trials industry. Greenphire was ranked 21st among software companies. Greenphire's revenues rose from $235,492 in 2009 to $5.4 million in 2012.

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