ICON has acquired PriceSpective LLC, a value strategy consultancy. The acquisition strengthens ICON’s expertise in value-based pricing and market access and, in concert with the recently acquired Oxford Outcomes' health economics and patient reported outcomes services, will create "the industry’s most integrated regulatory, clinical and market access solution," according to an ICON statement.
PriceSpective is headquartered in Philadelphia, with offices in London, Los Angeles, San Diego, Raleigh and Boston. Since the company’s inception in 2003, PriceSpective has developed strategies for dozens of new product launches, and hundreds of development and in-market products, across more than 40 disease areas.
Ciaran Murray, chief executive officer at ICON, commented, “Payers are increasingly demanding evidence not only of product efficacy, but also value for money, which has led to an upsurge in client demand for research that links efficacy, value and price. PriceSpective’s strategic expertise, coupled with its strong network of relationships with thousands of payers and market experts worldwide, makes it the perfect addition to our service portfolio.”
He added, “The acquisition of PriceSpective, and Oxford Outcomes in 2011, demonstrates our commitment to providing clients with integrated service offerings to support early-stage, pre-launch and post-launch decision making.”
“With a shared vision of an integrated approach to value, pricing and access strategy, PriceSpective is delighted to join forces with ICON to offer an expanded, leading edge service to our clients,” said Steve Slovick, PriceSpective's president. “The need for manufacturers to embrace a paradigm of value-driven development has never been greater, and the combined group has unparalleled expertise, Resources and insight to fully support our clients in this area.”