IT consulting giant Accenture ($ACN) has purchased Octagon Research Solutions, looking to offer pharma companies help with streamlining their regulatory filings.
Accenture didn't disclose how much it's paying for Octagon, a Pennsylvania-based private firm among the top 5 users of the FDA's electronic submissions program. The goal is to bolster Accenture's regulatory-assistance services, the company said, and Octagon's technology and offerings will fold into Accenture's life sciences business.
Filing for regulatory approvals is a costly process, and Accenture's goal is to provide its clients with the fastest, most effective pathways to get their products to market, David Boath, North American managing director for Accenture's life sciences group, said in a statement.
"Our clients have an urgent need to focus resources on the scientific breakthroughs and also to improve the efficiency of their clinical and regulatory operations," Boath said. "Octagon's capabilities and experience will enable Accenture to provide comprehensive services spanning regulatory operations, submissions management, clinical data conversion and clinical data management."
Accenture will retain Octagon's 380 employees and keep its Wayne, PA, headquarters in addition to locations in Mountain View, CA, London, and Bangalore.
- read Accenture's release
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