Second consecutive year for Firmenich to feature as the only fragrance & taste company in the LexisNexis 'Innovation Momentum 2023: Global Top 100 report'
GENEVA, Jan. 31, 2023 /PRNewswire/ -- Firmenich, the world's largest privately-owned fragrance and taste company, is proud to announce its inclusion in the 'Innovation Momentum 2023: Global Top 100 report' by LexisNexis. The report lists the top 100 leading companies advancing innovative solutions to today's challenges and laying the intellectual property foundations for further breakthroughs. Firmenich is recognized for the second consecutive year and is the only fragrance & taste company to feature in the LexisNexis Global Top 100 report.
Firmenich recognized as one of the world's most dynamic innovators by LexisNexis
"I am delighted that Firmenich is recognized as a global leader and a top league player in the world of innovation," said Gilbert Ghostine, CEO Firmenich. "Our groundbreaking science and innovation capabilities work to address some of the greatest global challenges. In addition to helping our customers strengthen their brands and delighting their consumers, we leverage our innovation to help address key societal challenges, such as sustainability, nutrition and sanitation. Innovation remains a cornerstone of our growth and I am proud of our leadership in science. Our research and innovation leads in our industry, and we continue to drive incremental and advanced ideas and technologies."
"We are honored to be the only fragrance and taste company recognized in the LexisNexis Global Top 100 companies Innovation Momentum 2023", said Jane Sinclair, General Counsel at Firmenich. "Firmenich is a trusted innovation partner with purpose-led values. Because our discoveries and research are at the cutting edge of fundamental science, protecting and enhancing them through intellectual property is critical to the success of not only our innovation, but also our overall Group business strategy. Our more than 4,000 patents and our highly focused IP strategy give us a competitive and differentiating advantage and help us accelerate our customers' growth strategies."
Compared to the previous assessment period, Firmenich saw a noticeable increase in its 2022 innovation pipeline, adding around 50 patent families to a strong and high-quality IP portfolio, and significantly outperforming its industry peers. The Group continues to lead in redefining the future of fragrance and taste, in collaboration with customers and partners, leveraging deep consumer insights and world-class scientific research.
Firmenich's innovation portfolio includes advances in biotechnology, research unravelling the mysteries of receptors for smell and taste, formulation tools for alternative proteins, innovative applications for digital technology, and much more. For more than 127 years, science, innovation and creativity have been at the root of the Group's growth, constantly shaping the future of fragrance and taste.
The Innovation Momentum methodology identifies companies with patents that outperform their peers based on the potential to lead to further inventions and the scope of market protection, rewarding companies with small but high-quality portfolios, or those with more extensive holdings that are well-maintained over time. Innovation Momentum builds on the Patent Asset Index, a unique patent evaluation methodology featured in the analytics platform LexisNexis PatentSight.
To learn more about the Top 100, download the "Innovation Momentum 2023: The Global Top 100" intellectual property report, visit www.lexisnexisip.com/innovation-report-2023
Note to editors
LexisNexis, a leading global provider of information and analytics, evaluated the qualitative and quantitative development of patent portfolios over the past two years to showcase companies that are outperforming their peers in innovation.
Firmenich, the world's largest privately-owned fragrance and taste company, was founded in Geneva, Switzerland, in 1895, and has been family-owned for 127 years. Firmenich is a leading business-to-business company specialized in the research, creation, manufacture and sale of perfumes, flavors, and ingredients. Renowned for its world-class research and creativity, as well as its leadership in sustainability, Firmenich offers its customers superior innovation in formulation, a broad and high-quality palette of ingredients, and proprietary technologies including biotechnology, encapsulation, olfactory science, and taste modulation. Firmenich had an annual turnover of 4.7 billion Swiss Francs at end June 2022. More information about Firmenich is available at www.firmenich.com.