Spectrum Pharmaceuticals (NasdaqGS: SPPI), a biotechnology company with a primary focus in oncology and hematology, marked its ten-year anniversary in business. The milestone is being celebrated by employees in the U.S. and a growing number of locations abroad as Spectrum expands its worldwide presence. Spectrum is headquartered in Henderson, Nevada, with its Research & Development facility located in Irvine, CA; additional locations include Spectrum Pharma Canada and the Company’s subsidiary, OncoRx, in Mumbai, India. Plans include establishing and expanding offices in Japan and in Europe to support international operations. “Spectrum has dramatically transformed itself over the past decade from a start-up company with no approved products to a dynamic industry leader with two approved drugs, substantial R&D opportunities and a successful commercial infrastructure,” said Rajesh C. Shrotriya, MD, Chairman, Chief Executive Officer, and President of Spectrum Pharmaceuticals who has led Spectrum from its inception. “Our mission and passion always have been to deliver better options for patients with cancer, and we are dedicated to building on our successes over the last decade as we look toward the future. Our commitment to our patients, our people and our investors helps explain why the company has continued to receive a number of merit awards, including One of the Best Companies to Work For in Orange County and One of the Fastest Growing Companies in North America. Further, our drugs have been featured in top medical conferences in the U.S. and abroad, as well as in multiple, major peer-reviewed publications. With a growing presence in the US, we are seeking to add more commercial products, build our pipeline with new products in development, expand our global presence, and continue to create a workplace that rewards excellence and is an exciting place to work. Based on these and other strong assets, we believe we are in a formidable position to continue the same growth pace over the next decade.”
More facts about Spectrum’s 10 th Anniversary:
- 10 years ago, the market cap was under $5 million; Spectrum’s market cap reached $1 billion in July 2012.
- 2 Commercial drugs on the Market FUSILEV® (levoleucovorin) for Injection in the U.S. and ZEVALIN® (ibritumomab tiuxetan) Injection for intravenous use, with record sales of $122.4 million in the first half of 2012.
- The Company’s first full year of profitability was 2011.
- More than 50,000 cancer patients treated in the past 2-3 years.
- 10 pipeline drugs in the clinical development, with near-term catalysts including clinical data from late-stage trials.