- Total revenue increased ahead of the wider market.
RESEARCH TRIANGLE PARK, North Carolina, May 19, 2015 /PRNewswire/ -- Marken, the world's leading Clinical Logistics Organization (CLO), completed and filed its audited financial results for the fiscal year 2014, which ended on December 31, 2014. The company outperformed the market and completed its capital re-structuring program.
In 2014, research & development spending in the global pharmaceutical market returned to modest growth of approximately 4% after a three year slowdown. Despite a more price-competitive environment, Marken was able to strengthen its market position and grow at roughly three times the market rate of growth, delivering 13% year-on-year growth organically, through an expanded portfolio of services, continued innovation and investment in technology.
The investments made since 2012, including: new / expanded facilities, a new network of industry-leading depots, two new IT operating systems, a new Quality Assurance emphasis and staff, and all new operating procedures, has allowed Marken to take advantage of improved market conditions and deliver a return to significant growth.
A renewed focus on continuous improvement, known internally as Marken's Operational Excellence Program was launched in late 2014 based on the application of Lean/Six Sigma techniques. The Program is now in full implementation and is expected to drive significant business process improvements while delivering continued growth and more competitive pricing.
"We are pleased with our 2014 results and the sustained growth momentum during the early months of 2015, which clearly indicate the successful operationalization and execution of our Strategic Plan. This has delivered a turnaround in operating and financial performance, and impressive year-on-year growth, which is reflected in very positive trading results for the year," said Wes Wheeler, Chief Executive Officer of Marken.
Marken is the leading global clinical supply chain solutions provider dedicated to the pharmaceutical and life sciences industries, supporting over 49,000 clinical investigators in more than 150 countries. Marken integrates depot and logistics into solutions that extend the reach of clinical trials to even the most remote treatment-naive geographies. Marken is 100% dedicated to the clinical research industry and a specialist in the transportation of investigational medical products and medical devices. In addition to services such as the storage and distribution of clinical trial materials and drug products to investigators or the patients directly, Marken maintains a leading position for the shipment of biological samples and offers additional services such as shipment lane qualifications as well as GDP, regulatory and compliance consultancy.