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AMRI history
AMRI company history timeline
The pair left Coromed in 1991 to start Albany Molecular, an effort that would require each partner to forego any form of salary for an undetermined length of time.
The venture was a gamble of sorts because in 1991 major pharmaceutical companies, often collectively referred to as "Big Pharma," rarely looked for outside help in their drug development efforts.
D'Ambra patented the process, licensing it to Aventis S.A. in 1995.
1995 The company formulates the active ingredient in Allegra.
In 1998, for example, the company recorded $33.9 million in revenue, from which it posted $10.4 million in net income.
Revenues swelled to $69 million in 2000 and net income increased to $23.5 million, enabling the company to raise $119.5 million in a secondary stock offering during the year.
In 2000, he added another 45 chemists, as he struggled to find the personnel to keep pace with Albany Molecular's bounding growth.
The company cited increasing competition from Asia, the closure of its laboratory operations in Chicago, and decreased royalties from Allegra as causes for an $11.6 million loss in 2004.
D'Ambra sought to improve the company's financial performance by expanding overseas, taking his first steps in a globalization plan in early 2005.
2005 Laboratory facilities are established in Singapore and India.
© Albany Molecular Research Inc. (AMRI) 2017.
© Albany Molecular Research Inc. (AMRI) 2019.
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AMRI competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Merck | 1891 | $64.2B | 74,000 | 2,363 |
| Johnson & Johnson | 1886 | $88.8B | 134,500 | 1,361 |
| Vertex Pharmaceuticals | 1989 | $11.0B | 3,400 | 120 |
| Gilead Sciences | 1987 | $28.8B | 11,800 | 684 |
| Sarepta Therapeutics | 1980 | $1.9B | 840 | 25 |
| Esperion Therapeutics | 2008 | $332.3M | 218 | 28 |
| Incyte | 1991 | $4.2B | 1,600 | 38 |
| Cubist Pharmaceuticals | 1992 | $926.4M | 873 | - |
| Sanofi Genzyme | 1981 | $4.6B | 12,000 | - |
| Eurofins | - | $4.9B | 48,000 | 498 |
AMRI history FAQs
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AMRI may also be known as or be related to AMRI, Albany Molecular Research, Albany Molecular Research (Glasgow) Ltd., Albany Molecular Research Inc, Albany Molecular Research Inc. AMRI, Albany Molecular Research, Inc., Amri (albany Molecular Research Inc.) and Amri Bldg21.