Ash Stevens Ranked Seventh largest Detroit-Area Biotech Company According to Crain's
Strong Client Focus Results in Sustained Growth
Detroit – May 13, 2009 – Ash Stevens Incorporated (ASI), a full-service cGMP contract manufacturer, recorded a 2008 revenue increase of 25 percent over the previous year and ranked seventh on Crain's Detroit Business' list of the top 10 largest Detroit-area biotech companies.
Dr. Stephen A. Munk, CEO and President of ASI, attributed the company's success and sustained growth, which included new facility expansions and employees, primarily to client focus.
"To be successful, we have to share the same goals as our clients, be proactive in looking out for our client's interests, and be flexible in adapting to our client's needs," said Dr. Munk. "Our strong base of repeat business from clients who have worked with us in the past is evidence of our commitment to doing quality work, delivering on goals, and client satisfaction."
Amid a struggling Michigan economy, Dr. Munk remarked that one bright spot is the biosciences community, which enjoys strong support from the state of Michigan. Earlier this month, Michigan became one of the few states with legislative biotech initiatives in both the house and senate. State legislators agreed to form a senate task force on biotechnology and a house subcommittee on biosciences to grow resources for Michigan's biotech industry.
Michigan's private sector is also working towards a more robust biotech industry. ASI and seven other drug development contract service providers have recently formed the Michigan CMC Alliance, which provides chemistry, manufacturing and controls resources and strategies to life science companies. For more information, visit www.micmcalliance.com.
For more information, visit Ash Stevens at the 2009 BIO International Convention, May 18-21, 2009 at booth #3147.
About Ash Stevens, Inc.
Headquartered in Detroit, Ash Stevens, Inc. (ASI) was founded in 1962 to service the chemical research needs of the Federal Government. ASI has extensive experience in the development and scale-up of commercial cancer APIs and shares a longstanding and successful relationship with the National Cancer Institute. ASI has a total of 11 FDA approved drug substances in its portfolio. The company has more than 60 employees and holds a variety of patents covering topics including medicinal agents and manufacturing processes. For more information, visit www.ashstevens.com.
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