Accenture, a global management consulting, technology services and outsourcing company, has agreed to acquire Octagon Research Solutions, a Wayne, Penn.-based provider of clinical and regulatory information management solutions and software for the pharmaceutical industry. Terms of the transaction were not disclosed.
Octagon will be fully integrated into Accenture's life sciences industry group. The acquisition will enhance Accenture's ability to help its pharmaceutical clients achieve more efficient global regulatory submissions that will enable them to get medicines to market more quickly, safely and at a lower cost. Accenture's capabilities will be expanded to include comprehensive clinical and regulatory services—from clinical data collection to regulatory submissions management. Accenture also will extend its business process outsourcing (BPO) services portfolio targeting the pharmaceutical industry.
"We believe that the timing is perfect for this acquisition as our clients are increasingly under pressure to reduce the drug development and approval timelines to get products to market more quickly, safely and cost effectively," said David Boath, North American managing director for Accenture's life sciences industry group. "Octagon's capabilities and experience will enable Accenture to provide comprehensive services spanning regulatory operations, submissions management, clinical data conversion and clinical data management. The acquisition will enable Accenture to offer what we view as the industry's first comprehensive regulatory services solution with a global footprint."
James C. Walker, Octagon's chairman and CEO, added, "Octagon and Accenture will bring together a powerful combination of industry expertise and global capabilities that will help pharmaceutical companies achieve sustainable drug development models and get products to market more quickly and at lower cost."
The acquisition is subject to closing conditions, including receipt of required regulatory approvals, and is expected to close within 60 days.