Model N Announces New Revenue Management Suite Optimized for Generic Pharmaceuticals

First Integrated Revenue Management Suite to Address the Unique Planning, Pricing, Contracting, Settlements, and Compliance Needs of the Generics Industry  

REDWOOD SHORES, California – June 18, 2008 – Model N, Inc., the leader in Revenue Management solutions, today announced the release of its Revenue Management Suite for Generics. Part of Model N Life Sciences Release 5.3, the suite supports manufacturers of generic-only as well as both generic and branded products. The fully integrated suite reduces revenue leakage and enhances regulatory compliance by linking the processes around revenue planning, pricing, contract creation, performance, and settlements through a combination of industry best practices and breakthrough software technology.  .

While the generic pharmaceutical industry is booming, the convergence of accelerating competitive pressure and increasing government regulatory oversight is creating an unprecedented level of complexity in managing sales and revenue. These challenges are magnified by disjointed revenue life cycle processes that are typically spread across multiple departments in the organization. The rapid pace of business in the generic pharmaceutical industry leaves these manufacturers challenged by the first-generation solutions that have been available to them. As a result, it is common to find poor hand-offs between pricing, contracts, and settlements processes and gaps in regulatory monitoring that can lead to significant revenue leakage and regulatory compliance exposure.

“Model N has worked closely with generics pharmaceutical manufacturers to incorporate functionality into its application suite that directly addresses the unique Revenue Management needs of our industry,” said Joseph Greer, Senior Director of IT at leading U.S. generics and specialty pharmaceuticals company Par Pharmaceutical. “The complexity and speed at which the generics pharmaceutical business operates continues to increase, and our ability to incorporate the latest technology to streamline our business is a key to our success. As a lighthouse customer, we were pleased to play an important role in the development of the suite and look forward to continue working with Model N in the future.”

Tailored to the Unique Requirements of the Generics Industry
The suite supports critical generics business activities, from frequent contract and pricing updates to complex and varied discounts and incentive deal structures. It also supports a broad range of unique generics business requirements, from the development of channel-specific contracting strategies to managing authorized generics products and handling nuances in government price reporting. With advanced analytical capabilities, the suite enables users to explore the wealth of data in the system and perform predictive modeling that provides invaluable business insights.

“Seventy percent of all prescriptions in the U.S. are now generic,” said Sujay Jadhav, General Manager, Model N Life Sciences. “For generics manufacturers, profitability potential in this rapidly growing market is often stymied by the need to generate sustained sales volume through competitive pricing, while understanding and monitoring the implications to their government business. With this release, generic pharmaceutical companies can now take advantage of a complete, generics-tailored revenue management suite based on a proven technology platform utilized by their branded pharmaceutical peers to boost margins, reduce compliance risk, and stay ahead of the competition.”

The Model N Revenue Management Suite is the only integrated Revenue Management suite installed in top 10 pharmaceutical and biotechnology manufacturers. Sharing a single technology platform that provides common data, workflow and integrated processes, the applications in the suite control all critical tasks across the Revenue Management lifecycle, from planning and pricing to payment of chargebacks, rebates, and fees through providing integrated regulatory compliance processes and controls.

More Information
To learn more, attend our Web Seminar on July 2 at 10 a.m. PDT. The seminar will explore in more detail the important features and functionality available in Model N Release 5.3, including the Generics Suite.

About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for pricing, contracts, compliance, rebates, fees, and chargebacks optimized for the industry practices of life sciences companies, with the only integrated government pricing and Medicaid claims processing capabilities in the industry. Enabling the creation of a seamless, end-to-end process from pricing 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 pricing and Sarbanes-Oxley regulations. Customers include Astellas Pharma US, Inc.; Axcan Pharma; Boston Scientific; Bristol-Myers Squibb; Gilead Sciences; MedImmune, Inc.; Medtronic, Inc.; Novo Nordisk, Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; and Pfizer, Inc. Model N is located in Redwood Shores, California. For additional information, visit www.modeln.com.

 

Media Contact:
Megan Reilly
Model N, Inc.
Tel: 650-610-4773
mreilly@modeln.com

Model N is a mark of Model N, Inc. All other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.