Summit Company Makes New Fortune 500 List

SUMMIT, NJ - Fortune Magazine has announced its exclusive 500 list for the most recent fiscal year, and New Jersey proved its worth with 20 companies on the 2019 rankings. The Garden State had four in the top 100.

Summit's Celgene made the list at 207 with a $15.2 billion dollar total. According to their website, Celgene's vision as a company is to build a major global biopharmaceutical corporation while focusing on the discovery, the development, and the commercialization of products for the treatment of cancer and other severe, immune, inflammatory conditions.

WalMart led the overall list, but New Brunswick-based Johnson & Johnson came in 37th overall, boasting an $81 billion year in 2018.

This week's release of information marked the 65th annual list, Fortune said. To put the list in context, Fortune writes that just a tenth of the companies on the list are responsible for nearly half of the total $13.7 trillion in revenue. You can read more in detail about the list via Fortune here.

According to the company's methodology, businesses are ranked based on total revenues for their respective fiscal years and file financial statements with a government agency.

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