PRINCETON, N.J. and NEW YORK and BENGALURU, India, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Indegene, a digital-first, life sciences commercialization company, announced the acquisition of CultHealth, a full-service, healthcare marketing agency for many life sciences brands. The acquisition by ILSL Inc., a subsidiary of Indegene Private Limited, augments Indegene's commercialization portfolio spanning drug discovery and development to marketing and sales, adding brand strategy and market development capabilities along with patient engagement platforms.
CultHealth is a U.S.-based, full-service, healthcare marketing agency with significant experience in medical strategy, creative and omnichannel planning services. It has a track record of delivering best-in-class creative for Direct To Consumer (DTC) campaigns, including numerous award-winning campaigns on digital TV/ video. CultHealth engages with life sciences companies at a medical/ academic level, bringing deep insight into drug Mechanism of Action (MOA) and customer behavior to derive insights for superior brand campaigns and creatives.
The global spend on medicine is projected to reach $2.1 trillion by 20251). Life sciences companies in the top 10 countries are expected to launch 290-315 products from 2022 through 2026, accounting for $196 billion in forecasted sales2). However, only 1 in 5 products launched in the U.S. reached a revenue of $1 billion from 2004 to 2016 and 50% of all products launched over the past 15 years failed to reach peak U.S. sales of $250 million3). In an increasingly complex business and regulatory environment, life sciences companies seek deep brand and marketing strategy expertise as they explore modern, data-driven ways of ensuring launch success and building a personalized brand experience with omnichannel engagement journeys for patients and physicians.
"With CultHealth, our life sciences clients benefit from partnering with a single service provider, all the way from brand strategy through commercialization. The CultHealth team brings nuanced expertise in reaching patients and physicians with meaningful DTC and marketing efforts, with a special emphasis on therapeutic areas of diabetes and oncology. Their long-standing relationships with some of the large, global life sciences companies and a record of growing business speaks volumes about the unique talent and culture nurtured at CultHealth," said Manish Gupta, Executive Director and CEO, Indegene Private Limited. "We welcome the CultHealth team to the Indegene family and are excited for our journey together."
"We are thrilled to join the Indegene family. Indegene's life sciences relationships, global scale and complementary portfolio offer exciting opportunities for us to grow together. Its team's medical expertise, life sciences-contextualized technology and agile culture make Indegene a natural home for our team," said Jeff Rothstein, Partner and CEO, CultHealth. "We believe that together we can build outstanding brand experiences, improve the effectiveness and efficiency of life sciences commercialization, and enable future ready healthcare."
Seyfarth Shaw LLP represented Indegene in this transaction. CultHealth was represented by Davis+Gilbert LLP.
About Indegene
We are a digital-first, life sciences commercialization company. We help biopharmaceutical, emerging biotech and medical device companies develop products, get them to the market, and grow their impact through the life cycle in a more effective, efficient, and modern way. We bring together healthcare domain expertise, fit-for-purpose technology, and an agile operating model to provide a diverse range of solutions. These aim to deliver, amongst other outcomes, a personalized, scalable and omnichannel experience for patients and physicians. It's what drives our team and our purpose to enable healthcare organizations to be future ready. To learn more, please visit www.indegene.com
About CultHealth
CultHealth is a full-service advertising and marketing agency focused on the unique needs of healthcare marketers. CultHealth develops strategies, creative, and innovative tactics to build connections or "cult followings" between brands and their audiences. Our engagements span highly visible national advertising for consumers to high-science medical marketing used to educate and motivate HCPs and prescribers. Known for our award-winning DTC and social media campaigns, breakthrough mobile CRM programs, and live experiential marketing for HCPs and patients, CultHealth builds brand worlds for some of the industry's most successful brands. To learn more, please visit www.culthealth.com
For media inquiries, please contact:
Yadunandan K V | yadunandan.kv@indegene.com
Sources
1) IQVIA, The Global Use of Medicines 2022, Outlook to 2026, January 2022
2) IQVIA, The Global Use of Medicines 2022, Outlook to 2026, January 2022
3) LEK, Biopharma Launch Trends, December 2020
