Genpact Acquires Pharmalink: A Good Step for the Life Sciences Industry
Genpact Acquires Pharmalink: A Good Step for the Life Sciences Industry
Business process outsourcing giant Genpact has just taken a step forward in a move that has positive impact for the life sciences industry. This BPO major is looking to expand its expertise and domain knowledge in this field through acquisition of Pharmalink Consulting. Pharmalink is a major player in the field of regulatory services for life sciences.
The amount for which this acquisition has been made is undisclosed. Genpact is a US based company. It has expanded its reach to many sub-domains within the banner of business process outsourcing. Pharmalink Consulting is a company whose employees are based in the US, the UK as well as Puerto Rico, Ireland and India. This takeover is going to yield rich results for Genpact. This BPO’s business portfolio will expand in the life sciences vertical and it will enhance their profit margins considerably following this acquisition.
Acquiring Pharmalink will add to the consulting, outsourcing and operational gamut of the services offered by this BPO giant. Life science is a rapidly evolving field. The new challenges in this industry revolve around regulatory concerns. Service providers are facing regulatory issues. There is a lot of potential for regulatory services in the field of life sciences. Genpact’s capabilities will also expand following this acquisition.
It will now focus on supporting research in life sciences. Apart from this, it will also exercise development functions. Everything from regulatory strategy to filing submissions has now come under Genpact through this takeover of Pharmalink. Genpact will now provide complex compliance services and manage post licensing activities as well.
This BPO corporate group already offers a host of sciences and pharmaceutical services. This includes regulatory submission, compliance, pharma-covigilance, and medical documentation. Genpact has also established medical contact centres. It has generated healthy revenue in the last fiscal. For the financial year 2013, the company has declared net revenue from international clients to be $1.65 billion which is an increase of 17.4% from $1.41 billion in the year 2012. A significant portion of the increase in revenue came from the life sciences operations.
Genpact’s president cum CEO, Mr. Tyagarajan has indicated that this acquisition of Pharmalink Consulting is an aim to invest in solutions for specific growth in verticals such as life sciences. This is a good move as Genpact will now be able to tap the potential of the life sciences industry. This industry is undergoing a transformation in recent times and Pharmalink has the right capabilities to expand the reach of Genpact.
The BPO company will now be able to serve its clients in this field well following the acquisition as the capabilities and raw talent of Pharmalink will enhance its functioning in this area. Pharmalink Consulting has an impressive client list. Nearly most of the 20 biggest global life sciences firms are currently clients of Pharmalink. This company has special expertise in a range of regulatory services including publishing and technology services, strategy, chemical manufacturing as well as operations.
Life science industry is currently facing a transition when it comes to commercial and regulatory activities. Experienced service providers are a big plus when it comes to handling these issues. Expanding its domain knowledge in the commercially lucrative field of life sciences will also translate into better visibility for Genpact.
When leading BPO service providers such as Genpact start extending their expertise through acquisitions, this is good news for the life science industry. With advances in research and technology come a host of regulatory issues. Experienced companies with global reach such as Genpact can hope to make a huge contribution to the profits of their clients in this sector. The success of any company is ultimately measured by its profits. But when an acquisition also translates into better brand value and more visibility, it is a win-win situation for all parties concerned.
