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Bids, Mergers and Takeovers

UDG acquires Cambridge BioMarketing

17 July 2017 07:12

UDG Healthcare announced the acquisition of Cambridge BioMarketing, a US-based healthcare communications business, for up to $35m.

Cambridge BioMarketing is an industry leader in orphan and rare disease drug launches, a fast-growing area of drug development and commercialisation. The orphan drug and rare disease market is forecasted to grow by a CAGR of 11% between 2017 and 2022 to $209bn, with orphan drugs estimated to account for 21.4% of prescription sales by 2021.

Cambridge BioMarketing has a strong creative and digital function in a market where digital content is becoming increasingly important for pharmaceutical companies.

The acquisition of Cambridge BioMarketing provides a platform for growth, specifically in Cambridge, Massachusetts and Oakland, California, both of which have a strong biotech presence.

It follows the acquisition of Vynamic, a US-based healthcare industry management consulting firm, announced on 12 July 2017, both of which are in line with Ashfield's strategy to expand in the US.

Cambridge BioMarketing is being acquired for $30 million, with an additional consideration of up to $5 million payable over the next twelve months, based on the achievement of agreed financial targets.

Story provided by StockMarketWire.com

Related Company: UDG

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