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Evaluate, a Norstella subsidiary, bought J+D Forecasting, a U.K.-based pharma forecasting solutions company, Wednesday morning.
Terms of the deal were not disclosed, but Evaluate heralded J+D Forecasting’s specialized models supported by cloud-based management and analytical solutions as a complement to its own consensus forecasting and consulting capabilities.
The London-based organization currently works with a number of blue chip pharma companies, including Gilead Sciences, Pfizer, Merck, Boehringer Ingelheim, Teva Pharmaceuticals and Eli Lilly.
Evaluate stated in a press release that this combination will allow its own pharma and biotech clients to better understand their respective markets, identify key opportunities and make more efficient and timely decisions.
“We are delighted to welcome the J+D Forecasting team to the Norstella family,” Norstella CEO Mike Gallup said in a statement. “Their expertise in developing bespoke forecasting models and innovative, intuitive solutions will provide our customers with an even wider breadth of expertise and cutting-edge insight. The addition of these capabilities significantly boosts our ability to help achieve our mission of smoothing the path of life-saving therapies from pipeline to patient.”
Norstella said it will integrate J+D Forecasting’s models into its operations and employ generative AI to synthesize insights from its models to further improve its forecasting capabilities.
For Norstella, the deal comes more than a year after its last major deal: the $5 billion merger with Citeline, formerly known as Pharma Intelligence. The transaction, which was first announced in mid-2022 and closed later in the year, created one of the world’s largest pharmaceutical intelligence solutions providers.
Looking ahead, J+D Forecasting expects the deal to bolster its ability to forecast market size, growth in key indication areas and evaluate demand for innovations for pharma firms.
“The need for high quality forecasting to support decision making in the pharmaceutical and biotech space has never been higher,” J+D Forecasting CEO David James said in a statement. “Bringing together two of the most respected forecasting providers in the industry provides huge opportunities for our customers, and I am looking forward to working with the Evaluate team and Norstella to bring innovative solutions to the market.”