Bio-Rad Laboratories has received the Frost and Sullivan market leadership award for drug discovery technologies for its KnowItAll Adme/Tox software and databases
This award is given to a single company annually that has displayed excellence in all areas of the market leadership process, including the identification of market challenges, drivers and restraints, as well as strategy development, and methods of addressing these market dynamics.
To determine the recipient of this award, Frost and Sullivan compares competitors and rank each for relative position via interviews with market participants and extensive secondary research of proprietary data sources.
Frost and Sullivan then presents the prestigious award to the company that received the number one industry rank.
Amarpreet Dhiman, industry analyst, Frost and Sullivan drug discovery and diagnostic technologies group, commented, "All-round excellence in the market leadership process underlies Bio-Rad Laboratories's receipt of the 2005 Frost and Sullivan drug discovery technologies market leadership of the year award.
"The company is recognised for excelling in market share gains, revenue growth rates, profitability as well as market and technology innovation.
"A clear understanding of end user needs, a commitment to providing outstanding customer service, and the ability to forge productive collaborations have powered the constant expansion of the award recipient's client base.
"The identification of significant niche markets, strategic investments in potential and emerging technology platforms/ markets, as well as the development of an innovative, high-quality product pipeline have further established Bio-Rad Laboratories's impressive competitive credentials and have been key to the company's market leadership".
Gregory Banik, general manager of Bio-Rad's Informatics Division, remarked: "We are particularly pleased and honoured to receive this prestigious award.
"The award distinguishes the KnowItAll system from other products on the market and points toward continued growth and future promise for Bio-Rad in this area.
"As this new wave of technology flows through pharma and biotech, Bio-Rad - with the help of its exceptional partners - will continue to be at the crest of the wave".
Bio-Rad's KnowItAll informatics system for in silico Adme/Tox offers a complete suite of tools for the computer-based prediction of a potential drug's Adme/Tox profile, including the one of the largest collections of predictive models, applications to build and validate predictive models, experimental Adme/Tox data, and integrated tools for chemical structure handling, data management, and reporting.
Within drug discovery, most failed compounds have problems associated with their absorption, distribution, metabolism, excretion, or toxicity (Adme/Tox) profile.
Virtual, or in silico Adme/Tox prediction is used to evaluate the Adme/Tox profile of a compound, even before it is synthesised, in order to eliminate poor drug candidates early on in the drug discovery cycle.
