PLANO, TX – Plano-based Pharmaceutical Strategies Group — which doubled in size in the past two years — recently moved into its new headquarters at The Campus at Legacy in Plano, which could give it the room it needs to grow.
The consulting firm helps big-name clients save on their pharmacy drugs and has seen a business boon with the growing cost of pharmaceuticals, said CEO Dave Borden.
“Everyone knows there’s a drug crisis in the country, it’s been a big issue in the campaign — but no one knows what to do about it,” Borden told the Dallas Business Journal.“Our company exists to address the rising costs of drugs.”
Pharmaceutical Strategies Group, which is also known as PSG, works with hundreds of clients, whom Borden declined to disclose, throughout the United States in helping to cover millions of clients and saving billions in drug costs each year. He said the firm’s clients range from Fortune 500 companies to big-box retailers.
This is the third time in the past several years, the Plano-based company has moved its headquarters to accommodate its growing employee base. This time, Pharmaceutical Strategies recently moved into its new corporate office totaling more than 23,000 square feet at The Campus at Legacy at 5360 Legacy Drive in Plano.
In all, the company has nearly 150 employees that made the move within Legacy Business Park, which is where the company has been located since 2008.
“We felt this was a great environment with the talent here,” Borden said. “It’s very business-centric and the talent understands technology. We have built up a great team that has a very good quality of life.
“We have clients everywhere and with Dallas/Fort Worth International Airport, we have direct flights to most of our customers,” he added.
By saving company’s money, Pharmaceutical Strategies could make some bank. Since 2014, the company has doubled its revenue and grown its earnings before interest, tax, depreciation, and amortization (EBITDA) by five-fold.
Since early 2012, Pharmaceutical Strategies has seen a 33 percent annual compounded rate of growth for revenue.
With drug costs accounting for about 20 percent of health care — and growing — Borden said he expects to grow by 40 percent or more this year.