NORTH READING, Mass., May 4, 2017 /PRNewswire/ -- 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 and company results for the first quarter of 2017.
Growth highlights for the first quarter of 2017 include:
- A 126 percent year-over-year increase in Q1 new sales bookings, including a 658 percent increase in EMEA new sales bookings;
- A two-year revenue compound annual growth rate (CAGR) of 73 percent; and
- A 71 percent increase in customer growth year-over year with 64 new customers added in Q1, for a total of 594 TraceLink customers.
"Our commitment to investing and expanding globally was truly evidenced this quarter by the record sales growth in all regions, including EMEA, India and APAC," said Shabbir Dahod, president and CEO, TraceLink. "TraceLink's continuous growth and remarkable performance is a result of our global talent, superior market leadership and our ability to meet the industry's need for a proven, scalable solution that is seamless and cost-effective, while enabling timely compliance to meet serialization deadlines."
Also in the first quarter, TraceLink announced NEXUS 17, taking place June 7 – 8 in Barcelona. As the industry's premier venue for key industry leaders and stakeholders across the life sciences supply chain, NEXUS 17 will provide focused education and thought leadership from leading industry executives on the European Union Falsified Medicines Directive (EU FMD) and other global emerging track and trace regulations.
Additional growth highlights and milestones for the first quarter in 2017 include:
- Continuing the expansion of the world's largest track and trace network – hitting a milestone of 594 customers and over 250,000 trading partners on the TraceLink Life Sciences Cloud. TraceLink customers span the entire life sciences supply chain, including:
- 37 percent representing pharmaceutical and contract manufacturers;
- 7 percent representing wholesale distributors; and
- 56 percent representing pharmacies, hospitals and health systems, covering more than 4,200 U.S. dispensing locations.
- Serving serialization customers across 24 countries – including the following:
- 90 percent in the United States;
- 8 percent in Europe, the Middle East and Africa (EMEA);
- 2 percent in the rest of the world.
- Expanding partnerships across services, specialties and industries – adding seven new partnerships in the first quarter to the TraceLink partner ecosystem, which now totals 30 partnerships with solution, integration and consulting providers across the U.S., EU, India and Asia-Pacific. Additionally, TraceLink covers over 90% of the U.S. hospital market through 13 agreements with group purchasing organizations (GPO), alliances, associations, management companies and cooperatives.
- Demonstrating the industry's only proven solution with the most live CMO connections on the network – with 162 CMOs live in production or in the process of going live, as of the end of Q1, and a 318% quarter over quarter increase in unique CMO connections on the network.
- Executing unprecedented serial number volumes globally – commissioning more than 330 million serial numbers and processing 2.5 billion serialized events to date.
- Submitting compliance reports into the EU Hub nearly 18 months ahead of the EU FMD deadline – processing EU compliance reports for 415,000 units of product into the EU Hub with a proven and EMVO-tested solution.
- Processing a total of 219 million Transaction History (TH) files for DSCSA lot-level compliance – a 146% increase from the total number of TH files processed by the end of Q1 2016.
- Continuing rapid growth of the TraceLink Cloud Community, the industry's largest forum on pharmaceutical track and trace - with 428 new members added in the first quarter, totaling more than 2,400 Cloud Community members that are able to interact with their peers from across the global supply chain.
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 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 Deloitte's Technology Fast 500 (ranked number 149 in 2016), the Amazon AWS Global Start-Up Challenge Grand Prize, and the Edison Award for Innovation in Health Management, the 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.
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SOURCE TraceLink Inc.