SOURCE: Ash Stevens

Ash Stevens

May 24, 2011 10:00 ET

Ash Stevens Recognized as One of the 100 Fastest Growing Inner City Businesses

Fortune Magazine and the Initiative for a Competitive Inner City Name Detroit Pharmaceutical Manufacturer

DETROIT, MI--(Marketwire - May 24, 2011) - Ash Stevens, Inc. (ASI), a global leader in small molecule drug development and manufacturing headquartered in Detroit, announced today it has been chosen as one of the fastest growing inner city companies in the U.S. The Initiative for a Competitive Inner City (ICIC) and Fortune Magazine reviews the number of jobs created and revenue growth, choosing the 100 businesses whose CEOs are role models for entrepreneurship, innovative business practices and job creation in America's urban communities.

Ash Stevens was named to the List during the Inner City 100 Awards Dinner in Boston on May 12, 2011.

"We are honored to receive this award from ICIC and to be part of the revitalization of the high-tech business community in Detroit. Ash Stevens has been able to attract top scientific talent both locally and nationally to become highly regarded in the industry as a preferred supplier of high quality pharmaceutical manufacturing services. We have been part of the Detroit community for nearly fifty years and remain committed to the region," according to Dr. Stephen A. Munk, CEO and President of Ash Stevens, Inc.

The Initiative for a Competitive Inner City, founded in 1994 by Harvard Business School Professor Michael Porter, is a nonprofit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there.

"We are delighted to celebrate businesses like Ash Stevens that are playing a critical role in revitalizing America's urban communities. Through their achievements, the Inner City 100 winning companies exemplify America's remarkable potential and the future of our urban centers," said Mary Kay Leonard, ICIC president and CEO. "These extraordinary companies demonstrate the market possibilities that exist within our inner cities and the growth that is at the heart of all urban entrepreneurial successes."

About Ash Stevens, Inc.
Ash Stevens, Inc. (ASI) is a full service Contract Pharmaceutical Manufacturer offering comprehensive small-molecule drug substance development and cGMP manufacturing services. Founded in 1962 and headquartered in Detroit, Michigan, ASI has extensive experience developing and manufacturing Active Pharmaceutical Ingredients (APIs) for commercial clients in the Life Sciences industry developing innovator small-molecule drugs. ASI is also a longtime provider of contract research services to the National Institutes of Health and the National Cancer Institute and has worked on many of the drugs developed through these government agencies. To date, ASI has received eleven FDA manufacturing approvals for innovator APIs, including three Fast Track manufacturing approvals for the active ingredients in the oncology drugs Velcade®, Vidaza®, and Clolar®. Services offered by Ash Stevens include: process development and scale-up; cGMP manufacturing; the development and cGMP manufacture of highly potent APIs using barrier-isolation technology; comprehensive analytical capabilities (including method development, stability studies and qualification of reference standards); and regulatory support for all phases of drug development and manufacturing. For more information, visit www.ashstevens.com.

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