GenericsWeb Holds Course through Economic Turmoil
August 05, 2009 (PRLEAP.COM) Health NewsSydney, Australia August 5, 2009 - Pharmaceutical Patent Intelligence firm GenericsWeb today announced that it had achieved in excess of 30% growth in revenue over the past financial year ending June 30th 2009, despite facing tough economic circumstances due to the global financial meltdown.
The Australian privately owned company is familiar with posting growth in the high double digits, averaging 35% growth over the previous three years, but when the financial crisis hit early in the past financial year, continuing this success seemed unlikely. However, GenericsWeb seemed to have the right recipe for poor economic conditions since it was able to continue growing its revenue base, drawn from customers in over 40 countries, through it's product and pricing structure.
"Our business model revolves around giving our customers exactly the patent information they need without committing them to pay for an entire database of largely redundant information" said founder and CEO of GenericsWeb Leighton Howard. "Although the current economic times caused existing customers to reduce overall spending, we were able to switch many new customers from other products because they suddenly needed to review spending on this critical business intelligence" he continued.
GenericsWeb will be celebrating 10 years of business in October but has its course firmly set on long term growth, continuing to invest in new markets and new products. In 2008 it opened its first office in the USA and also launched a brand new patent expiry product, Pipeline Scope. Five out of the top ten generics companies in the world are currently using Genericsweb patent intelligence to steer their generic developments, with many brand companies also finding benefits from the same information.
"Our customers have realised that not only can they save money by switching to a provider with a 'pay-as-you-go' pricing structure, but they also obtain more accurate and relevant information than when using their existing sources" commented Howard, "our dedication to the industry enables development of powerful products with high integrity, which new customers fall in love with"
Established in 1999, GenericsWeb has customers in over 40 countries including legal practices, government departments, consultants and generic manufacturers. GenericsWeb's Pipeline Patent Intelligence provides the most comprehensive, relevant and accurate patent information available which stem from GenericsWeb's 100% dedication to the industry, extensive experience and investment in customer research.
For further information about GenericsWeb's Pipeline Patent Intelligence please call a GenericsWeb staff member in your nearest regional office:
AU: +61 (0)2 9262 7696 | UK: +44 (0)870 879 0081 | US: +1 888 3100774
Alternatively, please visit www.genericsweb.com or email us at email@example.com
The website www.genericsweb.com also hosts a web portal dedicated to serving the generic pharmaceutical industry. Resources found at GenericsWeb include regularly updated news and articles, careers, business intelligence, industry links and product development services. Receive our free monthly newsletter 'INNsight' by registering online.