Bengaluru-headquartered Indegene, a technology-led healthcare solutions provider for big pharma and biotech companies, has acquired US-based Medical Marketing Economics (MME), a global niche leader in drug pricing, reimbursement and market access (PRMA) services.
MME specialises in advising life sciences organisations and emerging biotech companies on determining pricing and reimbursement, contracting strategy, tactics and custom payer market research to optimise market value for their innovations. Its team has a cumulative 300 years of pharma market access, pricing and reimbursement experience, Indegene said.
“They have vast experience in rare diseases, oncology, orphan drugs, biosimilars and newer technologies like gene therapy and CAR-T and their 40 plus strong team have proven PRMA capabilities that complement our co-commercialisation solutions”, Indegene co-founder and CEO Manish Gupta told Business Today.
MME will be the tenth health tech company to be acquired by Indegene, which was founded in 1998 by five first-generation entrepreneurs — Gupta, Dr Rajesh Nair, Dr Sanjay Parikh, Gaurav Kapoor and Anand Kiran. Later, Infosys founding member N S Raghavan also bought a stake as a secondary investor.
In February, the Carlyle Group and Brighton Park Capital invested over $200 million in the company. The founder promoters have about one-third stake in the fast growing and debt-free health specialist company, said Gupta.
He said Indegene had a topline growth of over 25 per cent and EBITDA compounded annual growth rate (CAGR) of 33 per cent in the last decade. Topline growth in 2020-21 was about 45 per cent and is expected to grow over 50 per cent this year to post about $200 million revenue. The company spent about $30-40 million in acquisitions and majority of these funds were mobilised from internal accruals, said Gupta.
He said COVID-19 has accelerated digitisation in life sciences industries. Emerging biotech organisations today contribute about 75 per cent of new drugs in pipeline and this is only expected to grow, giving opportunities for specialists like Indegene.
Indegene is among the global leaders in providing digital transformation to life sciences companies. It employs more than 4,500 people across North America, Europe, China, Japan and India, providing technology platforms and commercialisation services to pharmaceutical, biotechnology, and medical device companies.
It helps companies design, build, and manage digital-first operations that leverage data and automation to accelerate clinical development, improve regulatory compliance, enhance customer experience, and drive commercial success.