Posted on –Thursday , March 31, 2011 By Pharma Exxpress

TAKE Solutions, an international business technology solutions and services company with strong domain expertise in Life Sciences and Supply Chain Management is in the acquisition mood. With the acquisition of WCI the company is expanding its global reach and gearing up for the tomorrow. Ram Yeleswarapu, President and Chief Executive Officer, gives some insights into the acquisition and prospects to Sachin Jagdale

Before acquisition what was WCI's business profile?

WCI serves pharmaceutical, biotechnology, medical device, and other life science enterprises in the European Union—providing life sciences management consultancy services for patient safety, risk management, and quality and compliance.

WCI helps customers: Transform performance and compliance—by creating and implementing an effective risk strategy based on a proactive PV (PharmacoVigilance) model that is effective today and ready for tomorrow. Ensure continual oversight and control of their product and process risks—by maximising the benefits of risk management across the business and ensuring satisfaction of the emergent requirements of the regulators. Build quality management capabilities and systems that focus on processes—by engaging the broader population for cost effective delivery of quality and compliance. The company offers consulting services and business solutions, addressing business process transformation and change management, impacting process and organisation.

What are the financial details of this deal?

TAKE normally does not disclose financial details of deals explicitly—however, it provides related information in its financial reports as per the disclosure policy laid down.

How will this acquisition change/modify your operations in Europe and India?

TAKE Solutions is an international business technology solutions and services company with strong domain expertise in Life Sciences and Supply Chain Management. For businesses in the Life Sciences vertical, TAKE provides high-impact products, solutions and business services that enable efficient clinical, regulatory, safety and commercialisation processes. With seven of the top ten pharma companies as its customers, its track record in delivering world-class solutions across global markets is well proven.

This acquisition strengthens TAKE’s position as a company which provides a 360-degree coverage of clinical, regulatory, safety and commercialisation functions. This is by adding business consulting capability to complement their portfolio of IP-based business solutions and services. It will also give TAKE a presence in Europe, a market previously served remotely from established geographies. We also see an opportunity to leverage synergies in offerings, and our customer-bases across the world, for driving revenue and profitability growth.

What are the current challenges for you as far as patient safety is concerned?

Pharmacovigilance is becoming increasingly business critical. Ensuring the safest possible use of drugs is the responsibility of a life sciences company that is required by regulators and markets alike. Though PV evolution has largely been in reaction to regulatory requirements, it is no longer enough to merely address regulatory reporting in a timely manner. Now companies must anticipate and mitigate risk proactively. Markets are driving a paradigm shift with proactive risk management strategies driving signal detection, periodic reporting and AE handling. In a broader sense, the key challenge that companies face today is the move towards a unified approach to clinical data, regulatory compliance, drug safety and pharmacovigilance systems—with IT as a key enabler.

At the operational level—some of these challenges also relate to how practitioners create influence networks to ensure that the there are right plans and they are being implemented and tracked, and how they ensure effective interventions to achieve safety objectives for products.

What are the targets set by you in the area of patient safety after the acquisition of WCI?

Some of the world’s largest life sciences companies are today subscribing members of the pvNet and pvConnect forums owned and operated by WCI. It will be our combined quest to increase enrollment into these forums while simultaneously expanding the scope of these to adjacent regulated areas like animal health products, neutraceuticals, dietary supplements, etc.

TAKE’s experience and thought leadership within the clinical and regulatory spaces offer additional opportunities for creation of specific forums within these functional areas.

In addition. TAKE’s products and solutions, domain rich business services, validated infrastructure, and best practices qualifies it to extend our relationships within the WCI customer base with ease.

Tell us about other advantages of this acquisition?

This acquisition not only augments high-end consulting capabilities in patient safety, risk management, and quality and compliance, but also provides us with a presence in the European Union and improves our customer proximity and market access.

Further, it strengthens our ability to influence and shape the future of pharmacovigilance—by providing PV leaders with an environment to meet and discuss alternative solutions with other industry thought leaders and enable ongoing improvements. WCI’s pvNet and pvConnect allow practitioners and thought leaders—currently from 56 leading life science organisations, and growing—to join, share, learn and collaborate. The scientific community for example, includes a searchable library of previously discussed queries, periodic teleconferences to discuss experience and best-practices, as well as imminent issues—while ensuring complete company confidentiality. These industry interactions provide significant and valuable insight on the best practices and rising trends.

How much revenue growth do you expect with this acquisition?

With integration efforts currently underway, we are taking stock of the combined customer base, the cross-selling opportunities, related marketing and business development efforts etc. and will be in a better position to comment on this a couple of quarters from now.

Any new acquisitions in the pipeline?

TAKE has always made the right investments towards strengthening our products, improving market access and building capabilities to deliver customer success – both organically and inorganically. TAKE continues to look to build partnerships and to acquire capabilities to enable customer success, and to drive revenue and profitability.

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