UDG Healthcare announces takeover of STEM Marketing

UDG Healthcare has announced the acquisition of STEM Marketing, a leading provider of commercial, marketing and medical audits for the pharmaceutical industry.

The firm uses an evidence-based methodology to quantify and benchmark organisational alignment and quality of execution to create practical action plans to accelerate brand performance. It offers services across 35 countries, with 18 of the top 20 largest pharmaceutical companies among its customers.

UDG Healthcare will pay around 84 million pounds to complete the acquisition, which will allow the company to bolster the capabilities of its Ashfield Healthcare Communications division.

The deal will expand Ashfield's service offering and capabilities in the commercial and clinical services market, while allowing STEM to broaden its geographic reach and provide further client offerings, as well as offering new career options to its staff.

Brendan McAtamney, chief executive of UDG Healthcare, said: "STEM is an excellent strategic fit for UDG and is wholly aligned with our global growth strategy of expanding our market-leading positions providing services to the pharmaceutical sector."

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