The IPO was priced at $20 a share--above the midpoint of the range--and rose when trading began on Friday.
While the red-hot biotech initial public offering (IPO) market has grabbed headlines over the past year, tech companies that service these businesses have also cashed in. IMS Health signaled its intent to hop aboard the bandwagon at the start of the year, and it is now reportedly weeks away from going public.
The worst of the patent cliff has now passed, but IMS Institute for Healthcare Informatics has some bad news for the top 17 pharma companies: You still need to slash $36 billion from annual operating costs.
Inherent conservatism and a lack of regulatory guidance have caused pharma to edge slowly onto social media platforms. Yet patients still talk about their health online. Should drugmakers be listening?
The IPO could raise up to $100 million as TPG Capital Funds and other investors look to cash in on the business they took private in 2010 in a $5.2 billion deal.
The headline number in the latest drug-spending report from IMS Institute for Health Informatics is this: $1 trillion. Next year, the world market for prescription drugs will pass that lofty threshold. By 2017, the market will swell further to $1.2 trillion. That's an increase of up to $260 billion over the next 5 years.
Major tech and services firms would love for pharma to give cloud computing a wholehearted embrace, but the reality is that cloud software and services have trickled into the spending plans of drugmakers as they slowly warm up to web-based systems.
Continuing its acquisition spree, IMS Health has scooped up yet another cloud-based software company--the fourth in the past several months--buying up Raleigh, NC-based Incential Software to advance its sales and planning capabilities for life sciences companies on an even broader scale.
IMS Health has made its third cloud-based acquisition in as many months, snapping up mobile sales and marketing systems provider 360 Vantage. The deal continues IMS' whirlwind push into the cloud that has also seen it snag Appature and Semantelli in the past few months.
IMS Health has purchased Semantelli, a software startup whose technology reduces the risk of social media engagement for pharma companies. Drugmakers have tiptoed in the wild realm of the social web over fears about regulatory snafus and compliance headaches. Semantelli has helped pharma companies with those worries and has been rewarded.