Meitheal Pharmaceuticals, a Chicago-based pharmaceutical company, has been named the second fastest growing company on Crain’s Fast 50 list. The company recorded an impressive 13,294.6% growth rate, with over $230 million in revenue and a total of 90 employees, 75 of which are based in Chicago.

Founded in 2016, Meitheal Pharmaceuticals takes its name from an Irish word that means a team of people working together for a common cause. “Kind of in that meitheal spirit, we’re working together on our cause to bring sustainability into the U.S. market with these drugs,” explains John Spilman, vice president of corporate strategy at the company.

Meitheal Pharmaceuticals’ success lies in bringing more products to market. The company is on the Fast 50 list for the second year in a row, this time by expanding into biosimilars—drugs highly similar to biologic FDA-approved medicines—which have been slow to take off in the U.S. Spilman says the company expects to add 13 more products this year, growing to nearly 70 by the end of 2024.

In addition to biosimilars, Meitheal Pharmaceuticals is also expanding into biologics, drugs that are the first to go to market to target a specific disease. As the company continues to grow, it expects to become more visible within the health care sector.

For the full list of companies on Crain’s Fast 50, visit their website.

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