Raritan, N.J. – November 1, 2011 – iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced that Somaxon Pharmaceuticals, a specialty pharmaceutical company,has selected iContracts’ full suite of solutions to manage commercial contracts and help insure compliance with Government Pricing programs including Medicaid, Medicare, state programs and associated calculations and reporting. The iContracts solutions will be utilized as a software service over the web, thus eliminating the need for a significant investment in facilities, hardware, software, or related costs at start-up or on an ongoing basis. Specific modules licensed include iContracts Rebate Payer, Utilization Rebates, Medicaid Payer, Medicare Gap Payer, Government Pricing, and Reporting & Analytics.
Jill Howe, Associate Director, Accounting for Somaxon Pharmaceuticals commented, “iContracts complete suite of solutions, unmatched automation, and efficient implementation processes were leading factors in our decision. Somaxon is pleased to be working with an industry leader like iContracts on this critical project.”
Leigh Powell, Chief Executive Officer of iContracts stated, “iContracts is delighted to welcome yet another leading branded pharmaceutical manufacturer to our burgeoning roster of clients. Somaxon’s commitment to commercializing proprietary branded prescription therapeutics to treat important medical conditions where there is an unmet medical need and/or high-level of patient dissatisfaction gives hope to millions of patients across the globe, and we are proud to play a small part in their continued growth.”
iContracts’ solutions are available as an “on demand” service or as a behind-the-firewall offering and are built on iContracts’ revolutionary BCS platform featuring an advanced data architecture, rich functionality and Simplified Common User Interface (SCUI) enabling users to execute any process after learning just two basic screen formats. This groundbreaking design drastically reduces implementation; training and future upgrade timeframes and costs.
About iContracts
iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with considerable and unique experience in building contract management solutions for the Life Sciences industry. This deep understanding and straightforward approach shows in everything we do. iContracts comprehensive suite of solutions manages all aspects of a Life Science company’s chargeback, rebate and Medicaid processes as well as other incentive agreements and Government Pricing compliance at all levels. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com
About Somaxon Pharmaceuticals, Inc.
Headquartered in San Diego, CA, Somaxon Pharmaceuticals, Inc. is a specialty pharmaceutical company focused on the in-licensing, development and commercialization of proprietary branded pharmaceutical products and late-stage product candidates to treat important medical conditions where there is an unmet medical need and/or high-level of patient dissatisfaction, currently in the central nervous system therapeutic area. Somaxon’s product Silenor® (doxepin), now available by prescription in the United States, is indicated for the treatment of insomnia characterized by difficulties with sleep maintenance. For more information, please visit the company’s web site at www.somaxon.com
iContracts Media Contact:
Anne Ambrosio
iContracts, Inc.
Tel: 908-393-9550
aambrosio@icontracts.com