Indegene, a technology firm that provides solutions for life sciences companies in commercialization of their drugs and medical devices, on Wednesday said it has acquired US-based CultHealth, a full-service, healthcare marketing agency for many life sciences brands.
The Bengaluru-based Indegene didn’t disclose the financial details of the deal. The company acquired CultHealth through its US subsidiary ILSL Inc.
The acquisition is expected to augment Indegene’s commercialization portfolio spanning drug discovery and development to marketing and sales, adding brand strategy and market development capabilities along with patient engagement platforms.
Indegene with sales of $223 million in FY22, is the fastest growing digital company offering services to life sciences.
CultHealth is a U.S.-based, full-service, healthcare marketing agency with significant experience in medical strategy, creative and omnichannel planning services. It provides best-in-class creatives for direct-to-consumer (DTC) campaigns, including numerous award-winning campaigns on digital TV/video.
CultHealth engages with life sciences companies at a medical and academic level, bringing deep insight into drug Mechanism of Action (MOA) and customer behavior to derive insights for superior brand campaigns and creatives.
The global spend on medicine is projected to reach $2.1 trillion by 2025. Life sciences companies in the top 10 countries are expected to launch 290-315 products from 2022 through 2026, accounting for $196 billion in forecasted sales. However, only 1 in 5 products launched in the US reached a revenue of $1 billion from 2004 to 2016 and 50% of all products launched over the past 15 years failed to reach peak US sales of $250 million.
In an increasingly complex business and regulatory environment, life sciences companies seek deep brand and marketing strategy expertise as they explore modern, data-driven ways of ensuring launch success and building a personalized brand experience with omnichannel engagement journeys for patients and physicians.
“With CultHealth, our life sciences clients benefit from partnering with a single service provider, all the way from brand strategy through commercialization,” said Manish Gupta, executive director and CEO, Indegene.
“The CultHealth team brings nuanced expertise in reaching patients and physicians with meaningful DTC and marketing efforts, with a special emphasis on therapeutic areas of diabetes and oncology,” Gupta added.
“Indegene’s life sciences relationships, global scale and complementary portfolio offer exciting opportunities for us to grow together. Its team’s medical expertise, life sciences-contextualized technology and agile culture make Indegene a natural home for our team,” said Jeff Rothstein, partner and CEO, CultHealth.
