Biotech Sector Influencing Growth in the Pharmaceutical Consulting Services

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Mar 06, 2017, 08:00 ET

NEW YORK, March 6, 2017 /PRNewswire/ --

Rising competition within the pharmaceutical industry continues to drive the growth in the pharmaceutical consulting services industry. According to a new report published by Grand View Research, Inc., the global biotechnology services outsourcing market is expected to reach USD 92.9 billion by 2025, with a growth rate at a CAGR of 8.7% during the forecast period. The report indicated that consulting services, including regulatory compliance, remediation and quality management, accounted 20% of total biotechnology services outsourcing market in 2015 and is expected to dominate the market by 2025. Groupe Athena, Inc. (OTC: GATA), Streamline Health Solutions Inc. (NASDAQ: STRM), Nobilis Health Corporation (NYSE: HLTH), Innocoll Holdings (NASDAQ: INNL), Marinus Pharmaceuticals Inc. (NASDAQ: MRNS)

The increasing number of companies providing consulting services to the pharmaceutical industry is the direct result of growth in the biotech sector. A research by Global Market Insights indicates that rising prevalence of chronic diseases have increased the demand for innovations similar to DNA sequencing, microassays and recombinant DNA technologies to develop therapeutic solutions. Therefore, the biotechnology market is projected to grow at CAGR of 9.9% by 2024.

Groupe Athena, Inc. (OTC: GATA) is a research and testing organization and helps various pharmaceutical and medical products and devices companies in India and Southeast Asia to get regulatory approvals and facilitate exports of their products to the United States. The Company accomplishes this by assisting clients from concept through development, providing consultation on regulatory requirements, filings and processes.

Earlier today Groupe Athena Inc. announced that, "the guidance contained below represents forecasts, which indicate possible outcomes and are provided to assist investors with the development of earnings estimates. While Groupe Athena, Inc. believes that these forecasts represent the best estimate of management as to future events, actual events may differ from these forecasts, and such differences could be material. These forecasts are subject to risks identified under 'Safe Harbor Statement' below.

Groupe Athena, Inc. announced today that based on current orders on hand, revenues would be in the range of $52.5 million to $55 million in the current fiscal as against the previous estimate of $50 million.

As was previously stated, the Indian pharmaceutical industry is increasingly focusing on exports to the United States and GATA is well positioned to help them get their products approved by the FDA for sales in the US. The Company believes it has an advantage over competitors due to the facilities based in India, and their ability to deliver quick feedback to the clients that could result in expedited order generation. With recent additions to equipment, the company will continue to take on additional contracts and continue to anticipate further growth."

Streamline Health Solutions Inc. (NASDAQ: STRM) announced the general availability of its new Looking Glass® eValuator™ coding audit technology. Streamline Health engaged several of their existing Coding Audit Services clients to gain insight into how the new Looking Glass eValuator technology could benefit healthcare providers. The Company plans to make the new solution available to its clients and reseller partners immediately following HIMSS. Streamline Health Solutions is a healthcare industry leader in capturing, aggregating, and translating enterprise data into knowledge delivering actionable insights that support revenue cycle optimization for healthcare enterprises. The company's Looking Glass platform delivers integrated solutions, technology-enabled services and analytics that enable providers to drive reimbursement in a value-based world.

To start off the year, Nobilis Health Corporation (NYSE: HLTH) entered into a definitive agreement to acquire Hamilton Vein Center, a provider of clinical and surgical procedures for vascular disease. The acquisition adds four locations in the Houston area, one location in San Antonio and one location in Austin. San Antonio and Austin are new markets for Nobilis. Hamilton Vein Center has about 19,000 in-network patient encounters per year. "This acquisition continues our strategy of adding substantial in-network revenues to the Nobilis business model. With significantly larger in-network targets in our acquisition pipeline, we are positioned to effect material change throughout 2017," stated Harry Fleming, Chief Executive Officer. Nobilis is a full-service healthcare development and management company, with 24 locations in seven states, including 4 hospitals, 10 ASCs and 10 clinics. In addition, Nobilis partners with another 38 facilities across the country. Marketing seven independent brands, Nobilis deploys a unique patient acquisition strategy driven by proprietary direct-to-consumer marketing technology, focusing on a specified set of procedures that are performed at our centers by local physicians.

Innocoll Holdings (NASDAQ: INNL) is a global, specialty pharmaceutical and medical device company with late-stage development programs that is dedicated to engineering better medicines to help patients get better. The Company's proprietary, biocompatible, and biodegradable collagen products are precision-engineered for targeted use. Applied locally to surgery sites, they are designed to provide a range of benefits. The Company's late stage product pipeline is focused on addressing a number of large unmet medical needs. Its lead product candidates are XaraColl for the treatment of post-operative pain and Cogenzia for the treatment of diabetic foot infections. Its marketed products include CollaGUARD, Collatamp, Septocoll and RegenePro. It has initiated its Phase III efficacy trials for Cogenzia.

Biopharmaceutical company is dedicated to the development of innovative therapeutics to treat epilepsy and neuropsychiatric disorders, Marinus Pharmaceuticals Inc. (NASDAQ: MRNS) had announced the publication of preclinical data in the January issue of Neuropharmacology, showing that its positive allosteric modulator of GABAA, ganaxolone ameliorates, many of the behavioral abnormalities in a mouse model of adult Angelman syndrome (AS). Evidence from experimental models suggests that AS may be associated with deficient extrasynaptic GABAA receptor function. AS is a rare neurogenetic disorder characterized by severe developmental delay, motor impairments and epilepsy.

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