Clinigen is now closer to becoming the field’s worldwide leader, already being a strong managed access presence in Europe. The IMMC (International Medical Management Corporation), Japan’s largest supplier of unlicensed medicines, has already has been bought by them.
This news came in around one year after the CRO and the pharma hybrid launched Japanese business with Clinigen K.K., just a month after it had decided to purchase its associate, Quantum pharma, for $200 million (150.3 million euros).
Clinigen had made moves at the Japanese market back in 2015, via an acquisition of medicines and medical devices that the supplier Link Healthcare had. Link Healthcare, with offices around the globe, then became a part of Clinigen KK.
On the contrary, IMMC, is mostly focused on the Japanese market. The company, which was funded in 2006, provides vaccines and drugs in oncology and vitro fertilization, among products, to hospitals and healthcare professionals. It manages a network of over 850 clinics and hospitals, which Clinigen stated would now be able to benefit from a greater access to medicines available with them.
Over the 12 months ended in the 30th of September, the gross profit of IMMC was 352 million Japanese Yen, or $3.1 million.
Clinigen wants to keep the brand for the near future, since IMMC enjoys a good reputation in Japan. Although Japan is one of the largest pharmaceutical markets worldwide, the country imposes strict regulations on medicines and the drug approval process could be costly and quite time consuming.
In a statement, Clinigen stated that of the 154 drugs that were newly launched across the globe between 2008 and 2012, only a third was ever made available in Japan. In Japan, lawful access to official yet still unapproved medicines is allowed. This is where IMMC comes in and provides consulting and assistance to physicians who are looking to obtain those foreign medications for their patients.
But because that pathway is undeveloped, it is highly regulated. Because of this, Japan has been made into a bigger target for illegal sources of drug sales.
With the use of the IMMC buy, Clinigen will want to fill that unmet medical objective and need through a greater international network that will strengthen its position as a leader in managed access as well.
The British company purchased IMMC with an upfront cash payment to be followed by potential milestones over the next 12 months, and the exact amount was not disclosed.