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ICON acquires market access consultancy

Published on 28/02/12 at 11:49am

ICON has acquired consulting firm PriceSpective, helping to expand the contract research organisation’s services in the field of pricing and reimbursement.

The move reflects the growing importance of pricing and market access issues, which must now be considered earlier in the development of new drugs. Many of the sector’s biggest CROs have their own consultancy arms, which the firms combine with their clinical services to provide long-term strategic services.

Headquartered in Philadelphia, and with offices in London, Los Angeles, San Diego, Raleigh and Boston, PriceSpective specialises in strategic pricing, market access, HEOR, due diligence support and payer engagement services. Since the company’s inception in 2003, PriceSpective has developed strategies for dozens of new product launches, and hundreds of development and in-market products, across 40+ disease areas.

Commenting on the acquisition, Ciaran Murray, chief executive at ICON, said: “Payers are increasingly demanding evidence not only of product efficacy, but also value for money which has led to an upsurge in client demand for research that links efficacy, value and price. PriceSpective’s strategic expertise, coupled with its strong network of relationships with thousands of payers and market experts worldwide, makes it the perfect addition to our service portfolio.”

Murray added, “The acquisition of PriceSpective, and Oxford Outcomes in 2011, demonstrates our commitment to providing clients with integrated service offerings to support early-stage, pre-launch and post-launch decision-making.”

Steve Slovick, PriceSpective president said: “The need for manufacturers to embrace a paradigm of value-driven development has never been greater, and the combined group has unparalleled expertise, resources and insight to fully support our clients in this area.”     

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