IRVINE, Calif., Nov 12, 2010 (BUSINESS WIRE) -- Spectrum Pharmaceuticals, Inc.
(NasdaqGM:SPPI), a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology, today announced that it ranked #23 on Technology Fast 500(TM), Deloitte's ranking of 500 of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. Rankings are based on percentage of fiscal year revenue growing during the period from 2005-2009. Spectrum Pharmaceuticals grew 6,490% during this period.
"We are pleased to once again be ranked one of the fastest growing companies in North America," said Rajesh C. Shrotriya, MD, Chairman of the Board of Directors, Chief Executive Officer, and President of Spectrum Pharmaceuticals.
"We believe that product revenues from ZEVALIN and FUSILEV will continue to be strong, and would expect to remain on the Deloitte Technology Fast 500(TM) list of growing companies in North America for the next several years." "Spectrum Pharmaceuticals and the other 2010 Technology Fast 500(TM) winners forged ahead in a challenging economic environment to realize exceptional growth," said Phil Asmundson, vice chairman and Deloitte's U.S. technology, media and telecommunications leader. "Deloitte commends Spectrum for this impressive accomplishment." Overall, Technology Fast 500(TM) award winners for 2010 had revenue growth ranging from 146 percent to 164,079 percent from 2005 to 2009, with an average growth of 2,361 percent.
For additional detail on the Technology Fast 500(TM) including selection and qualifying criteria, visit www.fast500.com.
About Spectrum Pharmaceuticals Spectrum Pharmaceuticals is a biotechnology company with fully integrated commercial and drug development operations with a primary focus in oncology. The Company's strategy is comprised of acquiring, developing and commercializing a broad and diverse pipeline of late-stage clinical and commercial products. The Company markets two oncology drugs, FUSILEV and ZEVALIN and has two drugs, apaziquone and belinostat, in late stage development along with a diversified pipeline of novel drug candidates. The Company has assembled an integrated in-house scientific team, including clinical development, medical research, regulatory affairs, biostatistics and data management, formulation development, and has established a commercial infrastructure for the marketing of its drug products. The Company also leverages the expertise of its worldwide partners to assist in the execution of its strategy. For more information, please visit the Company's website at www.sppirx.com.
Forward-looking statement -- This press release may contain forward-looking statements regarding future events and the future performance of Spectrum Pharmaceuticals that involve risks and uncertainties that could cause actual results to differ materially. These statements include but are not limited to statements that relate to our business and its future, including certain company milestones, Spectrum's ability to identify, acquire, develop and commercialize a broad and diverse pipeline of late-stage clinical and commercial products, leveraging the expertise of partners and employees, around the world to assist us in the execution of our strategy, and any statements that relate to the intent, belief, plans or expectations of Spectrum or its management, or that are not a statement of historical fact. Risks that could cause actual results to differ include the possibility that our existing and new drug candidates, may not prove safe or effective, the possibility that our existing and new drug candidates may not receive approval from the FDA, and other regulatory agencies in a timely manner or at all, the possibility that our existing and new drug candidates, if approved, may not be more effective, safer or more cost efficient than competing drugs, the possibility that our efforts to acquire or in-license and develop additional drug candidates may fail, our lack of revenues, our limited marketing experience, our dependence on third parties for clinical trials, manufacturing, distribution and quality control and other risks that are described in further detail in the Company's reports filed with the Securities and Exchange Commission. We do not plan to update any such forward-looking statements and expressly disclaim any duty to update the information contained in this press release except as required by law.
SPECTRUM PHARMACEUTICALS, INC. (R), ZEVALIN(R), and FUSILEV(R) are registered trademarks of Spectrum Pharmaceuticals, Inc. REDEFINING CANCER CARE(TM) and the Spectrum Pharmaceutical logos are trademarks owned by Spectrum Pharmaceuticals, Inc.
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
(C) 2010 Spectrum Pharmaceuticals, Inc. All Rights Reserved.
SOURCE: Spectrum Pharmaceuticals, Inc.
CONTACT: Spectrum Pharmaceuticals, Inc Paul Arndt Senior Manager, Investor Relations 949-788-6700 x216 Copyright Business Wire 2010 -0- KEYWORD: United States
California INDUSTRY KEYWORD: Health
Finance SUBJECT CODE: Award