November 23, 2017
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R&D investment puts Putney on Fast 500

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PORTLAND, Maine — Putney, Inc., a rapidly growing pet pharmaceutical company focused on the development and sale of generic prescription medicines for pets, on Wednesday announced it ranked number 290 on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, life sciences, telecommunications and media companies in North America. The company qualified for the recognition as a biotech/pharma company using its proprietary intellectual property in developing FDA approved veterinary generics to drive revenue growth of 304%.
Putney president and CEO, Jean Hoffman, says the ranking as a Technology Fast 500 company recognizes the scientific expertise and marketplace innovation that drives Putney’s commercial success. “Putney has invested millions of dollars in R&D to develop FDA approved generics of expensive branded veterinary drugs. We are the only companion animal health company that is focused entirely on developing and commercializing veterinary generics, to help make pet healthcare more affordable,” says Hoffman. Putney launched two first-to-market FDA approved veterinary generics in 2013, Putney Enrofloxacin Tablets (generic of Baytril®) and Putney Cefpodoxime Proxetil (generic of Simplicef®).
“The 2013 Deloitte Technology Fast 500 companies are exemplary cases of those spurring growth in a tough market through innovation,” said Eric Openshaw, vice chairman, Deloitte LLP and U.S. technology, media and telecommunications leader.  “This year’s list is a who’s who of companies behind the most exciting and innovative products and services in the technology space.”
James Atwell, national managing partner of the Emerging Growth Company practice, Deloitte Services LP, continues. “The fastest growing companies in the US are drivers of constant innovation. The companies excelling in these (technology) sectors have a startup mentality that allows them to be nimble and adapt quickly, which is why they consistently lead the list of fast-growing companies each year.”