PharmaLex, based in Frankfurt, Germany, provides a range of specialist services, from preclinical scientific advice and toxicology studies to post-approval market access and pharmacovigilance support, to biopharmaceutical and medical technology companies. The company says it holds more than 40 meetings with European, Japanese and US regulatory agencies each year and lists nine of the top 10 pharmaceutical companies among its clients.
AmerisourceBergen has identified the capabilities as complementary to its existing European presence in pharmaceutical distribution and biopharmaceutical manufacturer services capabilities, leading it to agree to a takeover that is expected to be completed by March 2023.
The deal, which is expected to add $0.15 to adjusted diluted earnings per share over the last seven months of next year, advances the biopharmaceutical services expansion program that AmerisourceBergen outlined at its investor day earlier this year.
At the event, the company identified biopharmaceutical services as a $100 billion market, with a compound annual growth rate of 5% to 10%, which it is well positioned to target based on its existing connections. with downstream clinical customers and upstream manufacturers. AmerisourceBergen sees particular opportunities to add business with the small and midsize biopharmaceutical companies that are now critical to innovation.
“Many of these customers would like to buy several services at the same time“said Robert Mauch, executive vice president and group president of AmerisourceBergen.”They are more willing than larger manufacturers to purchase a portfolio of services from a service provider that will help them bring their products to market, we believe in multiple markets. The global footprint will really matterâ.”
Mauch went on to say that AmerisourceBergen’s reputation in the United States, coupled with the footprint it has built in Western Europe, gives the company the ability to add innovative services, whether in building, buying or joining forces.