PharmaLex set for merger to expand pharmacovigilance services
PharmaLex Group stated that the move would expand its footprint in Australia and New Zealand, expanding its capabilities in drug and device vigilance in the region, while offering complementary services and expanding the service portfolio of both companies.
Cpharm is headquartered in New South Wales, Australia, and its team consists of 19 people with experience across pharmacovigilance, medical information and managing patient programs.
The company’s capabilities include material compliance review, product complaints and recall handling. In terms of clients, Cpharm states that it works with companies from the start-up level to top ten multinational healthcare companies, operating in the prescription, generic, consumer medicines, and medical devices markets.
“The merger with Cpharm will benefit both our businesses as well as our experts and our clients, allowing us to offer end-to-end solutions in the Australian market, while at the same time expanding our long and proven working relationship with Cpharm. The agreement will enable PharmaLex to increase our coverage of pharmacovigilance and medical services in Australia and build interactions with the local client base to drive further growth for both organizations.” said Grant Bennett, managing director of PharmaLex Australia.
The financial details of the deal were not revealed.
A series of expansions
In September 2022, AmerisourceBergen announced its plans to acquire PharmaLex for €1.28bn ($1.42bn), a deal which was subsequently confirmed at the beginning of this year. At the time, the company said that the addition of PharmaLex business would be complementary to its European presence.
From the deal agreement date onwards, PharmaLex has undergone a series of mergers with companies providing specialized services for the healthcare industry. In October 2022, this led to the company merging with UK-based pharma and healthcare services consultancy business, NeoHealthHub.
The following month, the company also formed an agreement to merge with BlueReg, a regulatory advice and outsourcing consultancy based in France, with capabilities across Europe. According to PharmaLex, this deal allowed it to build out its capabilities in the areas of product development and product registration, market launch activities and regulatory affairs.
The latest deal with Cpharm follows on this trend of expanding through mergers, but into broader geographic regions, after consolidating its presence in Europe through the two other mergers.