We are extremely gratified to be chosen by Par as their partner for revenue management and to have them be our lighthouse customer for Model N's next generation of channel management capabilities
Redwood Shores, CA (PRWEB) May 1, 2008
Model N, Inc., a leader in Revenue Management solutions, today announced that Par Pharmaceutical Companies, Inc. (NYSE: PRX), a leading generic drug and specialty pharmaceutical company, has elected to implement Model N's full suite of Pharmaceutical Revenue Management solutions.
In deploying the comprehensive Model N Pharmaceutical Suite -- including applications for managing the full lifecycle of institutional and managed care contracts and incentives as well channel management and regulatory compliance -- Par is joining industry leaders implementing proven Model N commercial and regulatory solutions. Pharmaceutical, Biotech, and Medical Technology companies today are looking for a solutions partner with proven expertise that facilitates managing these processes in a changing business environment. Model N solutions complement and drive customer best practices in contracting, rebating and channel management while supporting ongoing changes to financial, accounting, and government pricing controls.
"After an in-depth evaluation, we strongly felt that Model N's advanced system architecture and functionalities were best suited to meet Par's high standards for commercial pricing, contracting, and compliance needs over the next decade," said Joseph Greer, Senior Director of IT at Par Pharmaceutical.
"We are extremely gratified to be chosen by Par as their partner for revenue management and to have them be our lighthouse customer for Model N's next generation of channel management capabilities," said Sujay Jadhav, Vice President and General Manager of Model N Life Sciences. "Our customers lead the industry in building customer-focused organizations based on best -in-class contracting, decision making, and analytics, and an improved technology infrastructure is a critical ingredient in driving business growth and reinforcing compliance."
About Model N
Model N is a leader in Revenue Management solutions, offering an integrated suite of applications for analytics, pricing strategy and execution, contracts, compliance, and settlements optimized for the industry practices of Life Sciences and High Tech companies. Enabling the creation of a seamless, end-to-end process from price setting through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government reporting regulations such as Sarbanes-Oxley and government pricing requirements. Customers include: Boston Scientific Corporation; Bristol-Myers Squibb Company; Cypress Semiconductor Corporation; Intersil Corporation; Linear Technology Corporation; Medtronic, Inc.; Microchip Technology, Inc.; Micron Technology Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; ON Semiconductor, Inc. and Pfizer, Inc. Model N is located in Redwood Shores, California. For additional information, visit http://www.modeln.com.
About Par Pharmaceutical
Par Pharmaceutical Companies, Inc. develops, manufactures, and markets generic drugs and innovative branded pharmaceuticals for specialty markets. For press release and other company information, visit http://www.parpharm.com.