Accenture has entered into an agreement to acquire Octagon Research Solutions, a provider of clinical and regulatory information management solutions and software. Financial terms were not disclosed.
Following the acquisition, Accenture's capabilities will be expanded to include comprehensive clinical and regulatory services, from clinical data collection to regulatory submissions management. Accenture will also extend its business process outsourcing (BPO) services portfolio targeting the pharmaceutical industry. Octagon is headquartered in Wayne, PA with additional U.S. and international operations in Mountain View, CA, London and Bangalore, India. Its 380 employees will be fully integrated into Accenture's Life Sciences industry group.
"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 chief executive officer, 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 will strengthen our longstanding commitment to the pharmaceutical industry and provide clients with a comprehensive, global regulatory service that will deliver tangible business value."