Springer to buy Adis pharma journals
Wolters Kluwer has reached an agreement to sell its pharma-related marketing and publishing services unit to Springer Science+Business Media.
The sale represents about 35% of Wolters Kluwer's pharma-related assets, based on 2010 revenue, the company said, and is subject to regulatory approvals. Marketing and publishing services (MPS) employs 450 people globally.
In a statement, Derk Haank, CEO of Springer Science + Business Media, called the MPS content a “perfect complement to our existing portfolio,” allowing Springer to expand its science, technology and medicine operations “not only in the Americas and Asia-Pacific regions, but also in parts of Europe where we do not yet have offices.”
MPS has main offices in New Zealand, the UK, US and Italy. Its Adis unit publishes 24 scientific journals and newsletters covering drug therapy and pharmacology. The VisionCare Group publishes six eye-related publications. MPS also houses the Adis R&D Insight drug development database, inScience Communications medical communications agency, and other services.
This July, Wolters Kluwer announced its plan to divest the Pharma Solutions business unit as part of a decision to focus on point-of-care tools and professional content. The firm is in separate discussions for the analytics part of the unit.
“Until a deal is complete, healthcare analytics will remain part of Wolters Kluwer Health & Pharma Solutions,” said Robert Dekker, VP of communications for that division.
In 2010 the Health & Pharma Solutions division of Wolters Kluwer, which includes Pharma Solutions, generated €816 million ($1.1 billion) in total revenue, including pharma and non-pharma sales.Wolters Kluwer said that the proceeds from the MPS sale will be used to reduce its debt levels, in line with previous objectives.