Google was #47. Apple was #79. Ranked at #43, Danbury headquartered Praxair surpassed both, one of two Connecticut-based companies in the top 50 on the latest Forbes® World's Most Innovative Companies list.
The highest-ranked company located in Connecticut, placing at #2 globally, was New Haven based Alexion, in the midst of a much-heralded move back to the city where it was founded. It is the second consecutive year that Alexion was ranked at #2.
Alexion Pharmaceuticals, Inc. is a biopharmaceutical company focused on serving patients with severe and ultra-rare disorders through the development and commercialization of life-transforming therapeutic products. Its marketed product Soliris is the first and only therapeutic approved for patients with two ultra-rare and severe disorders.
A specialized chemicals company with more than 26,000 employees worldwide, Praxair improved its “innovative” position on the Forbes list, up from #46 in 2012. Praxair, Inc. products are oxygen, hydrogen, nitrogen, argon, carbon dioxide, helium, electronic gases and a range of specialty gases. Praxair Surface Technologies supplies coatings, which protect metal parts from wear, corrosion and heat.
Ranked at #73 among the world’s 100 most innovative companies according to Forbes was Amphenol Corporation, with world headquarters in Wallingford. Amphenol is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems and coaxial and high-speed specialty cable. Amphenol systems are used primarily to conduct electrical and optical signals for a range of electronic applications.
Assa Abloy, at #78, is a Sweden-based company engaged in the secure door opening solutions. With operations in New Haven, the company's operations are divided into five divisions, including the supply of electronics security solutions worldwide. Assa Abloy provides secure identity solutions, contactless identification technology solutions, electronic lock systems and safes for hotels and cruise ships.
Based in Ireland, but with a strong presence in North Haven, Covidien Public Limited Company ranked at #67. Covidien is engaged in the development, manufacture and sale of healthcare products for use in clinical and home settings. It operates its businesses through three segments: Medical Devices, Pharmaceuticals, and Medical Supplies.
The San Francisco Bay Area had three of the top 10 spots and six spots overall on the list of 100 companies. Companies headquartered in Connecticut, or with a strong presence in the state, had a strong presence among the world’s most innovative.
For the third year in a row, San Francisco-based Salesforce.com topped the Forbes’ list. After Alexion, the remainder of the top five were U.S. companies VMware at #3, followed by Regeneron Pharmaceuticals and ARM Holdings. Amazon was # 7; Starbucks was #19. The complete ranking is featured in the September 2 issue of Forbes magazine.
In compiling the list, Forbes utilizes a detailed methodology. Companies are ranked by their innovation premium: the difference between their market capitalization and a net present value of cash flows from existing businesses (based on a proprietary formula from HOLT/Credit Suisse), the magazine reported. To be included, firms need seven years of public financial data and $10 billion in market capitalization.