UDG Healthcare acquires Cambridge BioMarketing for up to $35 million

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UDG Healthcare has acquired Cambridge BioMarketing, a U.S.-based healthcare communications business, for a total consideration of up to $35 million.

Cambridge BioMarketing is characterized by its executives as an industry leader in orphan and rare disease drug launches, which represents a fast-growing area of drug development and commercialization.

“The orphan drug and rare disease market is forecasted to grow by a CAGR of 11 percent between 2017 and 2022 to $209 billion, with orphan drugs estimated to account for 21.4 percent of prescription sales by 2022,” executives say. “Cambridge BioMarketing also has a strong creative and digital function in a market where digital content is becoming increasingly important for pharmaceutical companies.” According to UDG, the acquisition of Cambridge BioMarketing provides a platform for growth in Cambridge, Mass., and Oakland, Calif., both of which have a strong biotech presence. It follows the acquisition of Vynamic, a U.S.-based healthcare industry management consulting firm, “both of which are in line with Ashfield’s strategy to expand in the U.S.,” executives say.

Cambridge BioMarketing is being acquired for an initial consideration of $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.

“The acquisition of Cambridge BioMarketing provides us with industry-leading expertise in the fast-growing area of orphan and rare disease drugs and adds further capabilities in patient-focused communications programs, an increasing focus for pharmaceutical companies,” says Brendan McAtamney, CEO of UDG Healthcare. “The acquisition is in line with our strategic ambitions to grow our healthcare communications business in the U.S. and expand the range of services we offer to our global pharmaceutical customer base.”

According to Maureen Franco, CEO of Cambridge BioMarketing, “We are thrilled to be joining UDG Healthcare. Being part of the UDG group provides us with a deeper, complementary suite of services including healthcare communications, consulting, market access, clinical services and meeting and events, as well as a global footprint – allowing us to better serve our clients and providing increased opportunities for our employees.”