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      How do you follow a major agency acquisition? Reckoning with this question defined the majority of 2023 at Deerfield Agency.

      In July 2022, Deerfield acquired Verge Scientific. It spent most of the year that followed bringing the firm into the fold, according to managing partner Frank Burrell. The deal, he notes, was in line with the agency’s goal of bolstering resources to better support biotech clients and small and midsize pharma companies.

      While the integration process proceeded largely without incident, Deerfield saw revenue drop during 2023, to $60.3 million from $61.1 million in 2022. Head count fell in turn, from 140 full-timers in January to 135 at the end of December.

      Burrell attributes this to a period of stagnation following the loss of a pair of clients. Deerfield’s relationship with Cosette Pharmaceuticals ended due to a change in marketing direction, while its engagement with Galera Therapeutics concluded after the Food and Drug Administration rejected the company’s radiotherapy-induced severe oral mucositis drug avasopasem.

      Deerfield made up for the losses with a handful of wins, including an HCP media assignment for Incyte’s Opzelura, a non-steroid topical JAK inhibitor. The agency counts Procter & Gamble, Pfizer, Sun, UCB Pharma, Biogen, Kite Pharma, Cogent Biosciences, Nuvalent and Immunitas Therapeutics among its client mainstays.

      Deerfield Agency creative sample

      Burrell is especially proud of Deerfield’s ongoing relationship with Beiersdorf on skincare brands Aquaphor and Eucerin. For Eucerin, a legacy brand, Deerfield launched the Eucerin Sun line extension with an eye on expanding its target market and more effectively communicating with dermatologists. 

      “Being able to go in there and make a huge difference from an HCP marketing perspective — being able to help bring a new campaign and reinvigorate the Eucerin brand itself — was a special moment for us,” he says. 

      Deerfield similarly expanded its leadership team in 2023, adding a pair of well-regarded industry veterans to its C-suite. CFO Elizabeth Trachte joined the agency from Phoenix Marketing International, while chief creative officer Sam Cannizzaro arrived from Elevate Healthcare.

      Deerfield founding partner Joshua Benson heralded both additions, noting that Trachte and Cannizzaro bring both experience and creative verve. He believes the Deerfield team is well-armed as it prepares to celebrate its 10th birthday.

      Of course, Benson doesn’t expect the second decade to resemble the first. That’s why he touts Deerfield’s commitment to effectively using AI and other potentially business-changing technologies.

      Benson also expects Deerfield to expand its capabilities beyond its current core of media buying, omnichannel marketing and analytics. With backing from private equity firm Edgewater Growth Capital Partners IV, another deal could be on the horizon, particularly in the realm of strategic services. 

      “You can make a difference for clients with strategic services, especially if they have a tight budget,” he explains. “They don’t have time to learn as they go, so those resources can make a big difference.”

      (In early June 2024, after MM+M went to press on its Agency 100 issue, Deerfield announced the acquisition of New Jersey-based healthcare marketing firm Embedded. In the wake of the deal, the company united Deerfield Agency, Verge Scientific Communications and Embedded under the new Deerfield Group brand.)

      . . .

      Work we wish we did

      The Cost of Beauty by Dove highlights the scale of the social media-induced mental health crisis among kids and encourages people to sign a petition supporting the Kids Online Safety Act. It tells the story of Mary, who almost lost her life to an eating disorder, through her photos, videos and journal entries. In the process, it shows how Mary’s view of herself changes as she is influenced by social media. — Burrell

      Click to see Deerfield Agency’s Agency 100 2023 Profile.

      Click here to return to the MM+M Agency 100.