TraceLink Adds More than 130 New Customers in Q2 2018 with 255 Companies Now Live in Production, Exchanging Serialized Product Data on the Life Sciences Cloud
NORTH READING, Massachusetts, July 24, 2018 /PRNewswire/ -- TraceLink Inc., the World's Largest Track and Trace Network for connecting the life sciences supply chain and providing real-time information sharing for better patient outcomes, today announced it added more than 130 new customers in the second quarter of 2018, up 124 percent annually in quarterly customer growth, for a total of 939 customers in 39 countries. Additionally during the second quarter, 42 new pharmaceutical companies and contract manufacturing organizations (CMO) were configured for data exchange on the TraceLink network, for a total of 255 manufacturers that are now live in production, delivering serialized prescription medicines to markets around the world.
"I am extremely proud of the entire team at TraceLink and our continued success to meet the serialization and track and trace needs of the industry. Every department is integral to our momentum, helping TraceLink to considerably widen its position as the global market share leader, and meeting the high standard of service excellence that our customers have come to expect," said Shabbir Dahod, president and CEO, TraceLink. "Companies we're engaged with are telling us that most serialization projects with other solution providers are taking more than a year to implement and are over budget – whereas TraceLink's average implementation time for serialization is less than eight months and comes with no hidden costs. Our unique network-tenant approach enables TraceLink to implement the fastest and most comprehensive integration with trade partners, ensuring that business can achieve their serialization goals on time and on budget."
Of the 130+ new TraceLink customers added last quarter, 104 were pharmaceutical companies and contract manufacturers that chose TraceLink to help them comply with the upcoming EU Falsified Medicines Directive (FMD) deadline in February 2019. Manufacturers located in Germany, France, Spain, Italy and the United Kingdom, represented 58 percent of the new EU FMD customers added in the second quarter.
To help smaller pharmaceutical companies comply with EU FMD, TraceLink developed EU FMD Express, a cost-effective offering for companies with simple supply chains. In the second quarter, 32 companies selected the EU FMD Express solution, including Chester Medical Solutions, one of the leading contract development and manufacturing organizations (CDMO) in the UK. "After evaluating other vendors, we selected TraceLink's EU FMD Express solution and its Automated Validation Manager, which allows us to offer cost-effective and fully compliant EU FMD services to our clients, including aggregation and the ability to re-work previously serialized product," said Ian Robinson, Director of Business Development of Chester Medical Solutions.
TraceLink also recently announced its European Medicines Verification Organization (EMVO) conformance test kit, a streamlined program enabling its EU FMD customers to rapidly complete conformance testing and receive EMVO approval to submit data to the EU Hub. Since the beginning of Q2, 52 companies have completed their EMVO conformance testing with TraceLink's conformance test kit, a success rate that far exceeds any other solution provider on the market.
About TraceLink
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.
TraceLink is funded by Goldman Sachs, FirstMark Capital, Volition Capital and F-Prime Capital.
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