ICON plc, (NASDAQ:ICLR) (ISIN:IE0005711209), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today announced the acquisition of PriceSpective LLC, a global leader in value strategy consulting. The acquisition strengthens ICON’s expertise in value based pricing and market access, and together with the health economics and patient reported outcomes services acquired through Oxford Outcomes, enables ICON to offer the industry’s most integrated regulatory, clinical and market access solution.
Headquartered in Philadelphia, and with offices in London, Los Angeles, San Diego, Raleigh and Boston, PriceSpective is a premier consultancy that has a strong reputation for excellence in strategic pricing, market access, HEOR, due diligence support and payer engagement services. Since the company’s inception in 2003, PriceSpective has developed strategies for dozens of new product launches, and hundreds of development and in-market products, across 40+ disease areas.
Commenting on the acquisition, Ciaran Murray, CEO at ICON plc, said: “Payers are increasingly demanding evidence not only of product efficacy, but also value for money which has led to an upsurge in client demand for research that links efficacy, value and price. PriceSpective’s strategic expertise, coupled with its strong network of relationships with thousands of payers and market experts worldwide, makes it the perfect addition to our service portfolio.”
Murray added, “The acquisition of PriceSpective, and Oxford Outcomes in 2011, demonstrates our commitment to providing clients with integrated service offerings to support early-stage, pre-launch and post-launch decision making.”“With a shared vision of an integrated approach to value, pricing and access strategy, PriceSpective is delighted to join forces with ICON to offer an expanded, leading edge service to our clients,” said Steve Slovick, PriceSpective President. “The need for manufacturers to embrace a paradigm of value-driven development has never been greater, and the combined group has unparalleled expertise, resources and insight to fully support our clients in this area.”