Updated on 31 May 2013
Heartbeat recorded substantial growth in China in its user base for its stakeholder management software, data analytics solutions, and stakeholder data offering
Singapore: Heartbeat Experts, the global leader in stakeholder management solutions for the life sciences industry has announced its first quarter results for the year. The company has recorded a 350 percent year-over-year growth in emerging markets in Q1 2013 compared to the same period in 2012.
In the Brazil, Russia, India, China and Korea markets, the group is planning to increase revenue and expand staff.
The company reported expanding revenue across all the (BRICK) Brazil, India, China, Korea and Russia markets. Heartbeat recorded a significant growth in China where it significantly increased its user base for its stakeholder management software, data analytics solutions, and stakeholder data offering. Heartbeat also reported landing market access and reimbursement-focused projects for a range of new product launches in Latin America and new client acquisitions with generics and biosimilar manufacturers in India, Korea and Russia.
"In 2012 and early 2013 we opened four new offices in the region and greatly expanded our local team in China. China has represented a major milestone for our company, as we tripled the business development staff in 2013 from 2012. We are working with major multinational clients in China who are expanding the scope of their launches and growing their medical science liaison (MSL) teams. This has translated to larger project scopes and expansion of existing client engagements," said Keren Priyadarshini, VP, Asia-Pacific.
Rosangela Deamo, VP of Latin America, added, "In Latin America and Brazil in particular, market access issues have dominated our client's needs. We're beginning to work with key clients for each of their new product launches, mapping the reimbursement and health economic landscape for each indication in each market. The growth in 2013 compared to 2012 reflects increases in new product launches coupled with the strong client relationships we've built."
Heartbeat Experts reports planned expansions in emerging markets during 2013 with new offices in Buenos Aires, Warsaw and Istanbul.