MOUNTAIN VIEW, Calif., March 24 /PRNewswire/ -- Based on its recent analysis of the drug discovery technologies market, Frost & Sullivan recognizes Life Technologies with the 2009 North American Frost & Sullivan Company of the Year Award. The company's size, product portfolio breadth, market segment leadership, and strong future potential set it apart from any competitor in the life science research tools industry. Moreover, Life Technologies shows great commitment to providing innovative and enabling tools across the life science research continuum.
Formed from the combination of Invitrogen and Applied Biosystems, Life Technologies is on a clear path to become its own unique organization with unparalleled efficiency and speed of operation. More importantly, the reengineered Life Technologies promises extraordinary revenue growth that far outpaces the performance of its two predecessor companies.
"Prior to the 2008 merger, Applied Biosystems held the largest percentage of market share in the microRNA, PCR reagents, capillary electrophoresis sequencing, qRT-PCR, and life sciences mass spectrometry markets, while Invitrogen held the largest percentage of market share in the cell culture and protein expression and purification markets," explains Jonathan Witonsky, Industry Manager, Drug Discovery & Clinical Diagnostics, Frost & Sullivan. "By merging, the new company, Life Technologies, holds a significant market share in nine additional market segments, including the nucleic acid purification and isolation market, the laboratory information management systems market, the cell-based assays market, the research ELISA market, the high content screening market, the liquid chromatography market, the protein electrophoresis market, the RNAi market, and the proteomics array market."
Life Technologies offers approximately 50,000 products and lays claim to an incredibly strong technological foundation of approximately 3,600 patents and licenses. Today, with the Invitrogen and Applied Biosystems brands, Life Technologies is at the forefront of scientific leadership not only with exceptional products and services but also with name recognition and visibility that is not found elsewhere in the industry. The Invitrogen brand will remain platform agnostic with reagents that provide accurate and consistent results on virtually any platform technology. The Applied Biosystems brand will be workflow-centric with integrated, validated, and certified combinations of reagents, instrumentation systems, and services. Together, the two brands will serve the needs of a complex and fast-moving base of approximately 75,000 customers.
Life Technologies generated revenues totaling over $3 billion in 2008. In addition, it generated approximately $500 million in revenues from its joint venture in the mass spectrometry systems business. The company had more than $700 million in revenues from its cell systems business, approximately $900 million in revenues from its genetic systems business, and an estimated $1.4 billion in revenues from its molecular biology systems business. Of even greater significance is the company's unprecedented 27 percent share of the aggregate market segment analyses presented above.
Life Technologies has an unrivaled scale and financial strength. A $300 million investment in research and development is likely to expand the company's position in the burgeoning markets surrounding advanced genomics, regenerative medicine, diagnostics, forensics, and environmental testing. For example, Life Technologies is building on its leading position in the capillary electrophoresis sequencing market by making a major play in next generation sequencing. By leveraging its Invitrogen brand of nucleic acid sample preparation technologies and Applied Biosystems brand SOLiD(TM) System for ultra-high throughput DNA sequencing, Life Technologies is expected to have a major role in bringing next generation sequencing to the medical realm.
In the near term, Life Technologies' greatest advantage is the company's ability to exploit its leadership position in four broad technology groups. Specifically, Life Technologies is able to offer customers complete and integrated workflow solutions that can be incorporated throughout a research endeavor. The company is well-positioned to offer customers end-to-end solutions that can bring them from early discovery to clinical application. The world's premier scientists will be able to rely on one provider - Life Technologies - for all of their life science research tools needs.
For the company's rapid success at bringing together Invitrogen and Applied Biosystems, and then reengineering the combination into a whole new organization with vast growth potential, Frost & Sullivan is pleased to present the 2009 Company of the Year Award in the drug discovery technologies market to Life Technologies.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of business development, competitive strategy, customer satisfaction, and leadership within a particular Frost & Sullivan Industry Research Group (IRG). This award recognizes outstanding management, consistent growth, and the ability to offer high quality products and/or services as well as have a positive social and economic impact on local and national communities. It also highlights exceptional customer service offerings and the expertise to take advantage of market changes by capturing and solidifying market presence, or execute of innovative strategies within the existing competitive landscape.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Life Technologies
Life Technologies Corporation (Nasdaq: LIFE) is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of more than $3 billion in 2008, employs approximately 9,500 people, has a presence in more than 100 countries, and possesses a rapidly growing intellectual property estate of approximately 3,600 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc. For more information on how we are making a difference please visit our website: www.lifetechnologies.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Contact: Jake Wengroff 210.247.3806 firstname.lastname@example.org
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