PharmaLex has acquired Finnish consulting firm DRA Consulting Oy to strengthen its market position in the Nordic pharmaceutical industry.

Target Company Overview

DRA Consulting Oy, based in Finland, specializes in consulting services related to regulatory approvals and market access for the pharmaceutical and medical device industries. With a workforce of approximately 100 employees, the company has experienced significant growth, with revenues nearly doubling from just under six million euros in 2016 to around 11 million euros last year. DRA Consulting caters to more than 300 clients, including some of the largest multinational companies in the pharmaceutical sector. The recent acquisition by Germany's PharmaLex marks a significant advancement in the latter's strategy to consolidate its market leadership in the Nordic region.

Industry Overview in Finland

The pharmaceutical industry in Finland is part of a larger global landscape that has been dramatically influenced by factors such as aging populations and increased medication use. Particularly, there is a rising demand for regulatory consultancy services, a trend seen across Europe and worldwide, regardless of economic conditions. The sector has largely outsourced its regulatory and market entry functions to specialized consulting firms, a move that DRA Consulting embodies as it has established itself as a key player in this regard.

Currently, the market value of regulatory consulting services in the Nordic region stands at 120 million euros, while Europe-wide figures reach two billion euros, with a global market value of seven billion euros. This sector is projected to grow at an annual rat