Snyder Communications Inc., Bethesda, MD, has acquired Clinical Communications Group, Greenwich, CT, a pharmaceutical education and marketing agency, in a pooling-of-interests transaction valued at $108 million.
Clinical Communications Group works with the same client base that Snyder works with in its pharmaceutical education and pharmaceutical sales businesses but offers a broader array of pharmaceutical education services.
“We can now provide our pharmaceutical clients with one-stop integrated educational solutions that can reach from a product's initial introduction to the medical community to the final phase of product launch, including ongoing pharmaceutical marketing and direct-to-consumer marketing,” said Daniel M. Snyder, chairman/CEO of Snyder.
Within pharmaceutical education, the two companies' services overlap somewhat but mainly complement each other, said Clay Perfall, Snyder's chief financial officer.
“What we do is prepare and help companies host symposia and prepare educational materials for physicians and sales reps,” said Perfall, noting that Clinical Communications Group also offers these services but that these services represent only one-third of Clinical Communications Group's business.
Clinical Communications Group's other services include setting up advisory panels of physicians to help pharmaceutical companies decide how a drug should be positioned and who the target market should be; offering satellite training for doctors and sales representatives; and creating preapproval marketing materials for use before a drug has been formally approved.
“They have the educational marketing services from the prelaunch right through to the sales stage,” Perfall said.
In addition to boosting Snyder's pharmaceutical educational marketing capabilities, Clinical Communications Group also was a good fit because of the client list it serves. With long-term clients such as Bayer, Bristol Myers Squibb, Glaxo Welcome, and Parke Davis, Clinical Communications Group serves 25 of the top 50 pharmaceutical companies. Snyder's pharmaceutical sales business serves 16 of the top 20 pharmaceutical companies, leading to a host of cross-selling opportunities.