late 15c., "a being a precedent, previous occurrence or existence," from precedent (n.) + -ence, or from Medieval Latin praecedentia, from Latin praecedent-, past-participle stem of praecedere. Meaning "act or fact of preceding another, right of preceding another in processions, assemblies, social formalities, etc." is from c. 1600.
...its precedence as the world's leading manufacturer of pharmaceuticals
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