Abacus acquisition to boost Piramal’s market access capabilities
This article was originally published in Scrip
Just over six months after its acquisition of the US-based healthcare information business firm Decision Resources Group (DRG), the Piramal group has added the UK-based Abacus International, a provider of evidence-based global market access solutions, to its fold.
The deal while expanding DRG’s market access capabilities is also expected to boost its position in Europe as a key resource for healthcare firms worldwide. Financial details on the deal were not immediately available.
The Bicester headquartered Abacus differentiates itself by offering integrated market access solutions across the entire product lifecycle from payer strategy, through technical disciplines such as modeling and systematic review to value communications and health technology assessment, a statement from Piramal said. Abacus comes with a staff of about 55 and its clients include GlaxoSmithKline, Novartis, Merck & Co and Takeda, among others, as per details on the firm’s website.
Jim Lang, president of the market access business unit at DRG, said that the deal would also allow the company to offer market access capabilities for the medical device and diagnostic industry as well as to significantly expand commercial support capabilities, with industry-leading mobile communication tools. Founded in 1995, Abacus’ in-house multimedia team allows it to differentiate its service offering using software solutions including web, mobile and iPad applications.
DRG already offers a range of products including detailed market assessments based on a network of more than 125,000 healthcare professionals (primarily physicians), proprietary databases of market information and detailed analytical reports on specific therapeutic areas.
At the time of the acquisition of DRG, the Piramal group had indicated that it intends to develop its presence in the $5.7 billion healthcare information management industry both via organic and inorganic growth (scripintelligence.com, 17 May 2012). DRG, with projected revenues of $160 million for 2012, came with best-in-class margins, Piramal then said. The DRG acquisition was completed in June.
Piramal had in 2010 sold its domestic formulations business to Abbott for $3.8 billion and in the recent past has acquired a holding in the cellular carrier, Vodafone India, as part of efforts to park funds in high-growth areas that offer better returns than pharma over the short or medium term.