Cozint will be integrated with Market Measures Interactive (MMI), a
division of NOP World, the number one provider of primary healthcare market
research globally.
A leading supplier of web-based research solutions to the pharmaceutical
and biotechnology industries, Cozint complements and strengthens Market
Measures Interactive’s online capability to support customers’ sales and
marketing effectiveness. Cozint and MMI, will together help pharmaceutical
companies to deliver immediately actionable market research and consulting
services to optimise the productivity of their sales and marketing.
Rob Sederman, Cozint’s CEO, will become CEO of the newly formed division,
reporting to Elaine Riddell, CEO of MMI and NOP World Health.
Today, pharmaceutical companies are spending $15.5 billion a year in the
US on sales and marketing — with almost half of that focused on physician
detailing, says Elaine Riddell, CEO of NOP World Health. She added, With
promotional spending soaring, we saw a growing need among our customers for
new services to help them maximise the return on their sales and marketing
efforts. By bringing together MMI and Cozint, we have created a unique
organization — one that can integrate primary and secondary data, create
totally new productivity measures and offer actionable insight for
dramatically increasing promotional effectiveness. And we can do it all at
the speed of the Web, so clients can make informed decisions in days rather
than weeks.
The acquisition price equates to an approximate multiple of 1.3 times
Cozint’s 2001 revenues and it is anticipated to be earnings accretive in its
first year of ownership.
