Technology-led healthcare solutions provider Indegene has acquired US-based Medical Marketing Economics (MME) for $10 million, a senior company executive said.
MME is a pricing, reimbursement and market access services provider.
“We expect MME to add muscle to making Indegene one of the largest commercial first digitisation platforms,” Manish Gupta, co-founder and CEO of Indegene, told ET.
Indegene raised $200 million from investment firms Carlyle and Brighton Park Capital in February and is looking at more acquisitions in the regulatory, safety, patient-side space.
“We have a strong inorganic growth pipeline, and you will see that playing out over the next 6-24 months,” Gupta said.
Indegene’s revenue in the ongoing fiscal year is expected to be 50% higher than the $130 million it achieved in FY21.
“We are well on track to earn 50% growth and this acquisition is expected to be integrated over the next 6-18 months,” Gupta added.
Life sciences organizations, especially emerging biotech companies offering solutions in rare diseases, are struggling to determine and communicate the optimal market value of their innovations.
MME offers pricing and reimbursement, contracting strategy and tactics, and custom payer market research to address these challenges, Gupta said.
MME has experience in rare diseases, oncology, orphan drugs, biosimilars and newer technologies like gene therapy and CAR-T (Chimeric Antigen Receptor T-cell therapy).
“This partnership gives us access to a larger customer base, a global operations infrastructure, and significant opportunities for growth through adjacent services,” said Jack M. Mycka, Global President and CEO, MME. “Alongside Indegene’s clinical, medical and commercial solutions, we can further help clients identify, frame, communicate and capture the value of their medical innovations.”
Emerging biotech organizations contribute about 75% of the products in the pipeline today and this is only expected to grow.
Biotech originators are creating over $251 billion in innovation value.
These organizations are often unable to capitalize on the value that they create, since more than half of them have zero to limited commercialization capability.
Indegene and MME’s disruptive model helps them to not just build the right strategy, but also execute it all the way through commercialization, the company said.
Source: Economic Times