Avantor® Named to Fortune 500 List

Rhea-AI Summary

Avantor, Inc. (NYSE: AVTR) announced its debut on the Fortune 500 list, ranking 484 based on revenue. Following its acquisition of VWR, Avantor has adapted its business model to meet demands in biopharma, healthcare, and applied technology. The company supports vaccine development amid COVID-19, serving over 225,000 customer locations globally. Key highlights include serving 10 of the top 10 medical device firms and having products specified in over 80% of the leading biologic drugs. Nearly half of its revenues come from biopharma, improving workflow in drug development.

Positive

• Inclusion in the Fortune 500 list, ranking 484, enhancing brand recognition.
• Global infrastructure serving over 225,000 customers in 180 countries.
• Significant revenue from biopharma, crucial for drug development.
• Serves 10 of the top 10 medical device companies, indicating strong market position.
• Innovative solutions improving efficiency in drug production.

Negative

• None.

RADNOR, Pa., June 23, 2020 /PRNewswire/ -- Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies & applied materials industries, today announced its first inclusion in the Fortune 500 list, ranking 484 on the list of the largest U.S. companies by revenue.

Since the Company's acquisition of VWR, Avantor has transformed its business model to address and advance customers' needs in biopharma, healthcare and applied technology, from scientific discovery to scale up and commercialized delivery.

"Avantor is among the most recognized and trusted global providers of products and services to the life sciences and advanced technology industries," said Michael Stubblefield, President and CEO of Avantor. "Within each of our core offerings, we are ideally situated to support breakthroughs in life-changing biologics, with a portfolio that is used in virtually every stage of our customers' most important research, development and production activities."

Mr. Stubblefield continued, "In recent months the unprecedented global impact of COVID-19 has further amplified Avantor's mission of setting science in motion, as we actively support ongoing testing and fast-tracking of vaccine and therapy development."

Select Highlights:

• The Company's global infrastructure serves more than 225,000 customer locations, giving access to research labs and scientists in more than 180 countries.
• Through Avantor Services, the Company offers a broad range of services for lab management, clinical trials support, biorepository and specialty product procurement.
• Avantor's healthcare business serves 10 of the top 10 medical device companies in the world, centering on innovation application based on customer need.
• Within the pharmaceutical industry, Avantor's products are specified in more than 80% of the top 20 biologic drugs.
• Avantor is helping advance life-changing biologics in numerous ways, including improving yields in the bioprocessing of mAbs and optimizing downstream efficiency with its chromatography technology, as well as ensuring product integrity in a cell therapy process through its sterile fluid transfer technology.
• Nearly half of Company revenues are concentrated in biopharma, where Avantor functions as an integral part of the customers' development workflows and supply chains, helping them reach the market faster with life-saving drugs that improve patient outcomes.
• Avantor recently opened its ninth Innovation and Customer Support Center in Shanghai.

According to Fortune, Fortune 500 companies represent two-thirds of the U.S. GDP and employ 29.2 million people worldwide. Fortune identifies the nation's 500 largest companies based on a review of the prior year's total revenue and factors such as profits after taxes, year-end assets and total return to investors. A complete listing of the Fortune 500 is available at www.fortune.com/500.

About Avantor
Avantor^®, a Fortune 500 company, is a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies & applied materials industries. The company operates in more than 30 countries and delivers an extensive portfolio of products and services. As our channel brand, VWR offers an integrated, seamless purchasing experience that is optimized for the way our customers do business. We set science in motion to create a better world. For information visit, www.avantorsciences.com and find us on Linkedin, Twitter and Facebook.

From FORTUNE. © 2020 FORTUNE Media IP Limited All rights reserved. Used under license. FORTUNE is a registered trademark of FORTUNE Media IP Limited and is used under license.  FORTUNE and FORTUNE Media IP Limited are not affiliated with and do not endorse products or services of, Avantor.

Forward-Looking and Cautionary Statements
This press release contains, and oral statements made from time to time by Avantor's representatives may contain, "forward-looking statements." Forward-looking statements include statements regarding the proposed public offerings and other statements identified by words such as "could," "may," "might," "will," "likely," "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "continues," "projects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on Avantor's current expectations and assumptions regarding capital market conditions Avantor's business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, Avantor's actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the scale and scope of the COVID-19 pandemic, regional, national or global political, economic, business, competitive, market and regulatory conditions, Avantor's ability to anticipate consumer demand; changes in consumer confidence and spending; Avantor's competitive environment and other factors set forth under "Risk Factors" in Avantor's Annual Report on Form 10-K for the year ended December 31, 2019 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2020. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Avantor undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Global Media Contact
Robert Donohoe
Senior Director, Corporate Communications
Avantor
M: +1 484-688-4730
Robert.Donohoe@avantorsciences.com

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SOURCE Avantor and Financial News

FAQ

What is Avantor's ranking on the Fortune 500 list for 2020?

Avantor ranks 484 on the Fortune 500 list for 2020.

How has COVID-19 impacted Avantor's business?

Avantor has supported ongoing testing and accelerated vaccine development in response to COVID-19.

What percentage of Avantor's revenues come from biopharma?

Nearly half of Avantor's revenues are derived from the biopharma sector.

Which industries does Avantor serve?

Avantor serves the life sciences, healthcare, and advanced technologies industries.

How many customer locations does Avantor serve globally?

Avantor serves over 225,000 customer locations in more than 180 countries.