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IGI Laboratories, Inc. (NYSE Amex: IG) today announced it ranked 23rd on Deloitte’s 2011 Greater Philadelphia Fast 50 ranking of the 50 fastest growing technology, media, telecommunications, life sciences and clean technology companies in the Greater Philadelphia region. IGI Laboratories grew 133 percent during this period.
IGI’s chief executive officer, Charlie Moore credits a dedicated workforce and strong leadership with the company’s 133% revenue growth. He said, “At IGI, we have a clear vision for success and a talented team driving us forward.”
“IGI Laboratories, like all 2011 Greater Philadelphia Fast 50 companies, have excelled in fostering innovation and channeling it into spectacular growth -- against the backdrop of one of the most challenging economies in history,” said Tara L. Weiner, managing partner, Greater Philadelphia region, Deloitte LLP. "Deloitte recognizes IGI for its remarkable accomplishment.”
About Deloitte’s 2011 Greater Philadelphia Fast 50
The 2011 Greater Philadelphia Fast 50, which was conducted by Deloitte & Touche LLP, a subsidiary of Deloitte LLP, provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies – both public and private - in the Greater Philadelphia region. 2011 Greater Philadelphia Fast 50 award winners are selected based on percentage fiscal year revenue growth from 2006 to 2010.
In order to be eligible for 2011 Greater Philadelphia Fast 50 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company's operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of five years, and be headquartered within the Greater Philadelphia region.
About IGI Laboratories:
IGI Laboratories is focused in the development and commercialization of cosmetic and pharmaceutical products for the dermatology market.