The Globe 100
Market value 100
Return on equity 100
Top profit margins
2000 Mass. IPOs
All the charts for
this year's Globe 100
| 2000 Globe 100 |
9. CYTYC CORP.
hipping away at the Pap smear -- a test that reigned unrivaled for nearly 50 years and spared thousands of women the ravages of cervical cancer -- had been a slow and arduous process for Cytyc.
At the close of 1999, three years after the company's ThinPrep Pap test was approved by the Food and Drug Administration, Cytyc had gained only 19 percent of the market.
But 2000 proved to be a watershed year. By year's end, the ThinPrep had 36 percent of the market. Shares in the Boxborough company had doubled in value, to trade at about $20 each.
''You could really feel the momentum,'' said chief executive Patrick Sullivan.
Cytyc struck a deal with the nation's largest laboratory, responsible for processing about 10 million pap tests a year. It announced an agreement to couple the ThinPrep test with Roche Diagnostics' test for chlamydia.
Cytyc added more than 100 companies to the ranks of insurers that covered the ThinPrep test. It increased revenues by more than $60 million, reaching $142.1 million last year. And Sullivan said he expects 2001 to be an equally good year.
By the end of first-quarter 2001, ThinPrep had grabbed 41 percent of the market, increasing sales revenue by nearly 7 percent over the fourth quarter of last
''There is no question that the ThinPrep Pap test is headed to being the standard of care,'' Sullivan said.
''We believe we'll be able to achieve 50 percent market share by the end of the year.''
Extending our newspaper services to the web
Return to the home page