Combined company to provide an unprecedented level of insight into the US
pharmaceutical market
MOUNT LAUREL, N.J., Jan. 15 /PRNewswire/ -- ImpactRx, Inc., the
pioneering force in measuring the impact of pharmaceutical promotion on
physicians' prescribing behavior, announced today that it has acquired
Paragon Research & Consulting, Inc. of West Chester, PA. Paragon will now
apply its innovative analytical and custom research capabilities to
ImpactRx's proprietary data to provide the most timely, accurate and
sensitive evaluation of the pharmaceutical market and of individual company
and brand performance.
"ImpactRx's data combined with Paragon's analytics and research
expertise will provide our clients with unparalleled visibility into the
pharmaceutical marketplace," stated Richard Altus, CEO and President of
ImpactRx. "The synergies we will create across our organizations will allow
us to further leverage ImpactRx's unique data assets to deliver an
unprecedented level of market insight."
"ImpactRx's unique research and business model has been validated as we
embark on our eighth year of operation," Altus continued. "After several
solid years of revenue growth coupled with increasing profitability, we are
now generating sufficient cash flow to acquire complementary companies that
extend our value proposition to pharmaceutical sales and marketing
management. The Paragon acquisition and the recent expansion of our
physician information networks are two important examples of our commitment
to extending our capabilities to respond to the emerging information and
analytical needs of our customers."
Paragon, founded in 1991 by Dr. Robert Zelnio, is a full service
pharmaceutical market research and consulting firm committed to helping
clients gain competitive advantage by providing customized solutions to
complex business problems. "For our part," Zelnio noted, "we think our
association with ImpactRx will begin a whole new era of innovation. We are
excited to join forces with ImpactRx. Their data offers a view into market
activity that we can use to benefit our clients. It goes well beyond that
provided by traditional dispensed prescriptions. We're brimming over with
ideas for new methods and studies we can develop to support our clients'
marketing research needs and are equally enthusiastic about applying the
research and analytical skills of Paragon's team to ImpactRx's impressive
database. Through our combined expertise we will be able to provide all
clients with a more complete and more actionable understanding of their
marketing and sales challenges."
About ImpactRx
Founded in October 2000, ImpactRx' physician networks are the source of
an unprecedented intelligence capability for tracking the promotional
initiatives of the pharmaceutical industry and for measuring their impact
on physician prescribing behavior. Based in Mount Laurel, New Jersey,
ImpactRx is a private company with investment financing provided by
Mediphase Venture Partners (http://www.mediphaseventure.com), Oxford Bioscience
Partners (http://www.oxbio.com), Merck Capital Ventures
(http://www.merckcapitalventures.com) and 3i Group (http://www.3i.com).
CONTACT:
John Kain
Vice President, Marketing
ImpactRx, Inc.
856-273-0221, ext. 141
jkain@impactrx.com
SOURCE ImpactRx, Inc.
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Related links:
http://www.impactrx.com/
CONTACT:
John Kain, Vice President, Marketing of
ImpactRx, Inc., +1-856-273-0221, ext. 141, jkain@impactrx.com
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