Aiming to enhance its domain knowledge and expertise in life sciences, BPO services major Genpact plans to acquire Pharmalink Consulting, a global provider of regulatory services in life sciences, for an undisclosed amount.
The US-based firm said it has signed a definitive agreement to acquire Pharmalink Consulting, which will also include the company's employees based in the US, the UK, India, Ireland and Puerto Rico.
"The acquisition will complement Genpact's portfolio of services in the Life Sciences vertical and add significant consulting, outsourcing and operations capabilities," Genpact said in a statement late last night.
With an ever-changing regulatory and commercial environment, the life sciences industry continues to face new challenges that require them to rely increasingly on experienced providers, it added.
It will also significantly expand Genpact's capabilities in supporting the life sciences research and development functions, including regulatory strategy, filing submissions, complex compliance services and the management of post-licensing activities, the BPO services provider said.
Genpact's life sciences and pharmaceutical services include medical documentation, regulatory submission & compliance, pharmacovigilance, chemistry manufacturing compliance, medical contact centres, among others.
For the 2013 fiscal (January-December), the company said net revenues from global clients stood at USD 1.65 billion, up USD 244.6 million, or 17.4 per cent, from USD 1.41 billion in 2012.
Of this, USD 56.6 million, or 23.1 per cent, of the increase came from clients in the consumer packaged goods, retail and life sciences industries.
"This acquisition fits in exactly with our strategy to invest in solutions in specific growth areas in specific verticals such as Life Sciences," Genpact President and CEO said N V Tyagarajan said.
In an industry that is undergoing intense transformation, adding Pharmalink’s combination of talent, process expertise and domain knowledge to Genpact's portfolio will allow the firm to better serve its life sciences clients, he added.
Pharmalink's clients include nearly all of the twenty largest global life sciences companies.
It provides specialised expertise in end-to-end range of regulatory services, including strategy, chemistry manufacturing & controls (CMC), regulatory operations and publishing & technology services.