Annual Report - now outWhile 2021 was a challenging year for us, our employees, and many people across the globe due to the continued global pandemic it was a record-setting year for Knight. Knight achieved record revenues of $243 million, an increase of 22% over 2020 and record adjusted EBITDA of $38 million, an increase of 126% over 2020. Further, we continued to execute on our strategy of building on our pan-American ex US footprint focusing - our people, building on process, expanding on our products, and achieving record PERFORMANCE.
One of our organization’s strengths is our exceptionally talented PEOPLE. During 2021, we strengthened our management team with the addition of five executives namely a Global VP Commercial and Global VP of Human Resources based in Montreal, Canada as well as Global VP of Scientific Affairs and Global VP of Legal and Compliance based in Sao Paulo, Brazil, and a Global VP Manufacturing and Operations based in Buenos Aires, Argentina in 2022. We also continued to strengthen the structure and talent of our teams in each of our countries throughout 2021. During 2022, we will continue to improve on our structure to have the optimal team as we add more products to our portfolio.
As part of our integration activities the Knight team has been focused on implementing and improving our operating PROCESSES, including through systems implementation to enhance and monitor performance and execution. To date, we have completed the implementation of a global Customer Relations Management, a global pharmacovigilance and medical information systems, and Human Resource Information System as well as implemented ERP for 14 legal entities in 6 countries. In addition, Knight’s integration efforts during 2021 included additional changes to the structure and teams as well as advancing on implementation of a training system, initiating the implementation of a quality assurance system and continuing to implement ERP in the rest of Latin America.
We continue to advance our PORTFOLIO and execute business development initiatives in Canada and Latin American markets. During 2021, we acquired exclusive rights to manufacture, market and sell Exelon® in Canada and LATAM, entered into exclusive supply and distribution agreement with Incyte for tafasitamab and pemigatinib for Latin America, and launched Ibsrela™ in Canada. On regulatory front we obtained regulatory approval for an additional indication for NERLYNX®, obtained INVIMA approval in Colombia for Halaven® (eribulin) injection and Lenvima® (lenvatinib) as well as obtained approval for Rembre®(dasatinib), Knight’s own branded generic product. We aim to continue advancing our product pipeline through developing, acquiring and in-licensing of innovative and branded generics products as we continue to execute on our strategy of building a leading pan-American (ex US) specialty pharmaceutical company.
Looking ahead
Thanks to the commitment and hard work of our employees, we achieved our 2021 goals and have entered 2022 well positioned for further success. Throughout 2022, as the pandemic restrictions loosen, our teams will strive to build on 2021’s momentum and continue to execute on our pipeline and launches, to drive strong performance and ensure physicians and patients continue to receive the quality medications throughout our territories. At the same time, we will concentrate our efforts on completion of the ERP implementation in the rest of Latin America as well as other systems, to optimize and standardize the processes across all our territories. Finally, we will remain focused on our mission to acquire, in-license, develop and commercialize medicines and highquality treatments to improve the health of patients in Latin America and Canada.