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Pharma Tech Outlook | Thursday, December 10, 2020
The latest acquisition is part of Cytel’s commitment to continue driving pharmaceutical development through innovative applications of modern data analytics, which has also witnessed Cytel acquire MTEK Sciences and Ingress Health over the preceding year.
FREMONT, CA: Cytel, a leading provider of advanced analytics for the life sciences sector, announced the acquisition of Purple Squirrel Economics. This new deal will further swell the global reach of Cytels Health Economics Outcomes Research (HEOR) expertise, which spans the clinical development journey’s entireness, from regulatory submission to post-market access.
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The latest acquisition is part of Cytel’s commitment to continue driving pharmaceutical development through innovative applications of modern data analytics, which has also witnessed Cytel acquire MTEK Sciences and Ingress Health over the preceding year. Purple Squirrel Economics joins Cytel’s notable real world and innovative analytics team, offering industry-leading capabilities in HEOR value evidence generation, health economic studies and modeling, and value communications.
“Purple Squirrel Economics is a highly specialized HEOR team, and we are excited to welcome them into Cytel,” commented Joshua Schultz, Chief Executive Officer, Cytel. “By combining the power, knowledge, and expertise of Cytel, Ingress, and MTEK Sciences, we look forward to further increasing the reach of our innovative real world and advanced analytics services to help companies derive clinical insights as well as demonstrate and communicate value, ultimately aiding the global effort to bring medicines to patients more quickly.”
Located in the US and Canada, Purple Squirrel Economics provides strategic leadership with a global viewpoint by employing a team of senior health economists, research analysts, HEOR value communication writers, and market access professionals trusted by both payers and regulators. They help firms prove product value with rigorous quantitative insights, thus driving products towards commercial success.
Merging HEOR with other real-world solutions allows sponsors to leverage electronic health records, claims data, and other crucial sources for sound clinical data strategy. This aspect can augment clinical development strategy at every stage of the product journey.
“With healthcare’s increased focus on HEOR, from clinical development through to product reimbursement, joining Cytel provides an excellent opportunity for us to share our HEOR expertise more widely,” said Anna Forsythe, Managing Partner and CEO, Purple Squirrel Economics.
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