Eyes companies in commercial, medical regulatory and medical communication business in the $4 million-$40 million revenue range
Health-tech solutions company Indegene is on the lookout for global acquisitions to ramp up its capabilities and technology solutions in the life science and biopharma industry.
Indegene’s CEO and co-founder Manish Gupta told BusinessLine that the company plans to acquire companies in commercial, medical-regulatory and medical communications business in the $4 million-$40 million revenue range, including start-ups, as possible candidates. Indegene enables pharma companies to bring their products to market using its digital and AI-led medical and commercial tech capabilities and operations.
Indegene’s last acquisition was in 2019 when it took over European consulting firm, DT Consulting. It added to its seven earlier acquisitions in the US and Canada in the past seven to eight years. The company has already invested close to $40 million already in its technology investments and acquisitions.
“We have grown substantially over the past five to six years. We attribute it to our continued evangelism of digital adoption in sales and marketing functions of the life science industry over the past 10 years,” Gupta said.
He said the company is extending its capabilities in medical, regulatory and clinical domains along with our AI capabilities to the industry in fast-tracking regulatory filings and time to market. “We have deep medical expertise along with data science BU expert teams working with our global clients,” Gupta said.
“We are witnessing a very different sense of urgency over the past few months for digital acceleration. The progress in the next 12 to 18 months in enterprise-wide digital adoption and applications in the life science and biopharma world will overtake what the industry has achieved in the past 10 years,” Gupta said. He said the company has been witnessing a spurt in business over the past few months with enhanced demand from the pharma and life science industry for digital solutions.
The company hired 300- plus people to meet this additional demand, with another 150-200 new hires in the offing.
Meanwhile, Indegene recently announced a ‘Gratitude Bonus’ for its employees. The company also announced its on-schedule annual increment for more than 2,000 employees across its global offices.
Fast-tracking Covid-19 Vaccine and Clinical Trials For Other Drugs
Gupta said its customers include large pharma companies working on developing Covid-19 vaccines. Using Artificial Intelligence, Indegene has come up with a method to benchmark their programmes, including all the regulatory intelligence that is available, so that first-time filing has a higher success rate for approvals and cut down time to market significantly. “Once the (Covid-19) vaccine is out, the industry will need support infrastructure to manage physician and patient queries, manage safety events, etc. We have a play in all these areas,” Gupta said.
The company is working with the pharma industry to see how digital can be used to accelerate these clinical trials incorporating real-world data, genomics data, insurance -claims data. “We have evolved into a global healthcare solutions company that is enabling life sciences organisations bring products to the market using modern medical and commercial capabilities and operations,” he said.