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Acquisition database helps extend product lifecycle by seeking new applications for drugs.
Cambridge Consultants, a product development and technology consultancy firm, is collaborating with Clinigen Group on a six-month project to create a new way of identifying fresh market applications for drugs approaching the end of their product lifecycle.
Clinigen, a specialty global pharmaceutical products and services business headquartered in the UK, with offices in the USA and Japan, is committed to making further drug acquisitions, with a focus on rejuvenating product performance and extending product life by seeking new uses for drugs, extending their geographical sales footprint or reformulating them. Targeted products are niche, hospital-only, mature or end-of-lifecycle drugs.
Cambridge Consultants has built an acquisition database of 4000 drugs, which have been screened and ranked, with 150–180 potential targets identified. Clinigen has identified a number of product opportunities from the acquisition database and are actively pursuing several of them.
“Identifying new drugs is vital to our unique business model and our mission to supply the right drug to the right patient at the right time. Working with Cambridge Consultants allowed us to ensure we developed the most robust and effective process that speeds up decision making to identify drugs to license and bring to market faster with consistent and measured market analysis,” Peter George, chief executive officer of Clinigen, commented in a press release.
“New critical life-saving treatments are rarely found by serendipity and require strict search and selection processes. Combining these with our market analysis and strategy support, we’ve been able to help Clinigen breathe new life into old drugs,” said Kate Hudson-Farmer, senior consultant at Cambridge Consultants.