IMS Health has completed the acquisition of a provider of clinical trial cost benchmarks, budgeting and negotiation tools, TTC.
The acquisition will enable IMS Health's clients to enhance the speed, efficiency and cost-effectiveness of their trial planning and management activities.
As part of the acquisition, IMS will integrate its evidence-based, anonymized patient and treatment outcomes insights with TTC's comprehensive cost data drawn from organizations that conduct nearly 80% of all commercial clinical studies.
IMS said TTC's benchmark data and budgeting/negotiation services will be available through its clinical trial optimization unit, a part of the company's healthcare value solutions business.
IMS healthcare value solutions senior vice president Andrew Kress said, "This acquisition marks an important step in further expanding IMS's capabilities in the pharma R&D space."
IMS clinical trial optimization solutions general manager Linda Drumright said the combination of TTC's portfolio and IMS information assets will fuel ongoing innovation, enabling clients to base vital budgeting and negotiation decisions on real-world data and benchmarks.
"Together, we can deliver an end-to-end view of trial planning and execution - increasingly critical at a time when the industry faces significant challenges and requires new approaches," rumright added.
