UDG invests in the world trends of the pharmaceutical market
A specialist in rare disease drug launches, Cambridge BioMarketing has been snapped up by an Irish healthcare service provider UDG Healthcare in a $35 million deal. Buying the Massachusetts-based communications firm is part of UDG’s overseas expansion plans.
While UDG is relatively unknown in the US, the Cambridge BioMarketing acquisition is the second this month – UDG also bought Vynamic, a healthcare management consulting firm. And this is the fifth purchase in the US this year. BioMarketing has been purchased by $ 30 million in advance with additional payments of up to $ 5 million over the next year.
The attractiveness of Cambridge BioMarketing lies in the company’s leading position in the market of rare diseases. It is in this area that UDG plans to develop its capabilities. According to Evaluate Pharma, rare disease drug market is expanding rapidly, with an annual growth rate of more than 11% until 2022. It is expected that niche drugs will account for more than 21% of all prescription drug sales by 2022, or about $ 209 billion.
Rare disease marketing and orphan drug launches are unique in pharma marketing, not only in the nature of the diseases, which by definition means small patient populations and a general lack of public awareness. Marketing in this area involves smaller, mostly digital budgets. However, patients are usually attracted to new methods of treatment.