New York Stock Exchange-listed business process outsourcing major Genpact Ltd has inked an agreement to acquire US-based regulatory affairs firm Pharmalink Consulting, to enhance its domain knowledge and expertise in life sciences. The financial details of the transaction, however, are not disclosed.
Pharmalink Consulting offers specialised expertise in end-to-end range of regulatory services, including strategy, chemistry manufacturing and controls, regulatory operations and publishing and technology services.
The acquisition will also see Pharmalink Consulting’s employees based in the US, the UK, India, Ireland and Puerto Rico becoming part of Genpact’s Life Sciences vertical.
The pharmaceutical services and life sciences of Genpact include medical documentation, regulatory submission and compliance, pharmacovigilance, chemistry manufacturing compliance and medical contact centres.
“In an industry that’s undergoing intense transformation, adding Pharmalink’s combination of talent, process expertise and domain knowledge to Genpact’s portfolio will allow us to better serve our life sciences clients,” said NV ‘Tiger’ Tyagarajan, president and CEO, Genpact.
The acquisition will also help Genpact expand its capabilities to support the life sciences research and development functions, including regulatory strategy, filing submissions, complex compliance services and the management of post-licensing activities.
“Genpact will bring the global scale, process excellence, analytical insights and technology needed to further enhance our outsourcing services offering demanded by the market,” said Peter Griffin, chairman, Pharmalink Consulting, which counts all top 20 global life sciences firms as clients, among others.
With global operations in 24 countries around the world, Genpact was started in 1997 as a business unit within General Electric. In 2005, it was spun off from GE and went public on the NYSE in August 2007.
This is its first acquisition in over a year.
In 2013 calendar year it saw its revenues rise 12.1 per cent to $2.13 billion.
(Edited by Joby Puthuparampil Johnson)