Mumbai, India-based pharmaceutical product manufacturer Piramal Healthcare is to acquire US-based pharma research firm Decision Resources Group (DRG) for around $635m.
DRG provides web-enabled research and predictive analytics, proprietary databases and consulting services to the global healthcare industry. The firm bought consulting and MR firm PharmaStrat
last year, and BioTrends Research Group
the previous year.
For the year 2012, DRG is projecting revenues of $160m. The firm focuses on three market segments: biopharma, market access and medical technology, and its products include market assessments based on a network of more than 125,000 healthcare professionals (primarily physicians), proprietary databases of market information, and analytical reports on specific therapeutic areas.
Peter Hoenigsberg (pictured), CEO of DRG, described the deal as an excellent opportunity for the business, and its customers and employees: ‘Our customers have indicated that independent, objective, indispensable information from emerging markets is one of their greatest needs, and Piramal’s experience in emerging markets is important since these markets are the primary avenues for growth in the pharma industry’.
Following the completion of its acquisition from Providence Equity Partners - its owner
since 2007 - DRG will operate as a stand-alone business, headquartered
in Burlington, MA, and will continue to be led by Hoenigsberg and the existing senior management team.
The transaction is expected to close by June 30, subject to customary regulatory approvals and closing conditions.
Web sites: www.piramal.com