marketRx Raises $10.25 Million in Series C Funding for Pharmaceutical Sales and Marketing Effectiveness Solutions - Equity Financing from Andwel Partners, WestBridge Capital Partners and Pharmaceutical Industry Veterans -

marketRx Raises $10.25 Million in Series C Funding for Pharmaceutical Sales and Marketing Effectiveness Solutions - Equity Financing from Andwel Partners, WestBridge Capital Partners and Pharmaceutical Industry Veterans -

BRIDGEWATER, N.J. (PRWEB) October 10, 2003 --- marketRx, Inc., a leading provider of Sales Force Effectiveness and Marketing Effectiveness solutions to top pharmaceutical companies today announced it has received $10.25 million in Series C equity financing from Andwel Partners, WestBridge Capital Partners and marquee investors from the life sciences, technology and financial services industries including three Emeritus Chairmen of leading global pharmaceutical companies.

Prominent investors include Robert P. Luciano (Chairman Emeritus of Schering-Plough), Charles Sanders (Former Chairman and CEO of Glaxo, Inc.), Rick S. Braddock (Chairman, Priceline.com), William Shreyer (Chairman Emeritus, Merrill Lynch and Co., Inc.) and Dennis Turner (Ex-CEO and Chairman, PMSI, Inc.)

"Sound business planning over the past two decades by the pharmaceutical industry had resulted in focus on key therapeutic areas by several leading companies. Today several companies play in every drug class and competition is keen. The next generation of marketing and sales effectiveness solutions from marketRx embrace the power of advanced analytics and technology to provide much needed solutions to improve the sales and marketing effectiveness in the industry at strategic and tactical levels", said Rick Braddock, Chairman, priceline.com.

Rick Braddock is on the board of several leading corporations including Eastman Kodak Company and Cadbury-Scweppes. He was previously the President and COO of Citibank N.A. and CEO of Medco Containment Services.

With strong success with customers, an impressive array of comprehensive solutions and sound leadership, marketRx is poised to be a leading, successful global player in the pharmaceutical sales and marketing effectiveness arena", said Sumir Chadha, Senior Managing Director of WestBridge Capital Partners.

Our team started out to change the sales and marketing paradigm in the industry and providing solutions that are in tune with the needs of the industry over the next several years. We are happy to see that pharmaceutical industry executives have embraced our solutions and the value they provide to both strategic and tactical teams within their organizations", added Jassi Chadha, CEO and President of marketRx.

The time has come to avail the rich data available in the industry and transform it into valuable, actionable insights that deliver true results to the pharmaceutical top line", he added.

Rick Braddock and Sumir Chadha will also be joining marketRx Board of Directors.

Funds will be used for sales and business development activities, new product initiatives and geographical expansion.

About marketRx
marketRx is a marketing informatics company that provides innovative software-based products and services to pharmaceutical, biotechnology and medical device manufacturers worldwide.
MarketRx combines extensive brand marketing knowledge with proprietary analytical models and world-class information technology. The marketRx technology-enabled marketing solutions include strategic and tactical planning software, online market research and interactive marketing (e-Detailing). The marketRx Web-based solutions provide a collaborative environment for predictive modeling, enabling its global customers to execute efficient and focused sales and marketing programs.

Headquartered in Bridgewater, NJ, marketRx was founded in April 2000. Over 25 global pharmaceutical companies are currently leveraging the innovative marketRx marketing solutions in USA, Europe and Asia.

More information about marketRx, Inc. can be accessed at www.marketrx.com.

About WestBridge Capital Partners
WestBridge Capital Partners is a Mauritius based leading U.S.-India focused venture capital fund with approximately $140 million under management. The fund focuses primarily on cross-border U.S.-India technology and services companies that are targeting global markets. It invests in both Information Technology and Outsourced Services companies across all stages. WestBridges investors include leading institutions and entrepreneurs across the globe. WestBridge has offices in Silicon Valley and Bangalore. For more information, visit www.wbcp.com
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