Evaluate, headquartered in London, is owned by US pharmaceutical insights group Norstella.

J+D Forecasting works with pharmaceutical forecasters, analysts, business insights managers and marketing departments to offer forecast models. With offices in Manchester and Italy, the company employs around 40 staff.

Through the acquisition, Evaluate will combined its consensus forecasting with J+D’s specialised models.

Norstella will continue to expand its forecasting portfolio by integrating J+D Forecasting’s models and employing generative AI to synthesise insights from various models. 

The financial terms of the deal have not been disclosed.

Mike Gallup, chief executive, Norstella said: “The J+D Forecasting team’s expertise in developing bespoke forecasting models and innovative, intuitive solutions will provide our customers with a wider breadth of expertise and cutting-edge insight.

“The addition of these capabilities significantly boosts our ability to help achieve our mission of smoothing the path of life-saving therapies from pipeline to patient.” 

David James, chief executive and founder at J+D Forecasting, added: “The need for high quality forecasting to support decision making in the pharmaceutical and biotech space has never been higher ... I am looking forward to working with the Evaluate team and Norstella to bring innovative solutions to the market.”