Raritan, N.J. – July 14, 2010 — iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced that Silarx Pharmaceuticals™, Inc., a manufacturer of quality generic liquid pharmaceutical products has selected solutions from iContracts™ to manage commercial contracts, help insure Government Price compliance, and analyze contract performance. iContracts fully integrated solutions will enable Silarx to manage these complex processes as they embark on an aggressive rollout of new products over the coming months and years. A joint iContracts/Silarx team will immediately begin the implementation process and expect to be live and realizing value within the next 90 days. Silarx will access iContracts solutions 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.
Joe D. Hampton, Jr., Senior VP of Silarx™, commented “Silarx’s need for a complete solution encompassing chargeback, rebate, and Government Pricing processes that could be implemented on an accelerated timeframe made iContracts the hands-down winner in our evaluation of alternatives. We were particularly impressed by the high degree of automation, ease of use, clearly superior value proposition and perhaps most importantly, the knowledge exhibited by the iContracts team and strong recommendations of other iContracts clients as key drivers in our decision. We look forward to working with iContracts on the initial implementation and expansion of our relationship well into the future.”
A. Leigh Powell, Chief Executive Officer of iContracts commented, “Already a respected name in the pharmaceutical industry, Silarx is superbly positioned for growth in the coming years – and iContracts is honored to have been selected as their partner to address these critical business issues and processes. In selecting iContracts fully integrated suite of solutions, Silarx extends the trend of companies saying no to the status quo of high priced, difficult and expensive to maintain solutions – and yes to our Better Contracting Solutions platform. We look forward to working with them to quickly deliver value on this important project.”
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 far 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 is backed by a highly evolved data architecture – 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 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 Silarx
Silarx Pharmaceuticals, Inc. is a manufacturer and marketer of quality generic liquid pharmaceutical products. Since 1987, dedication to quality manufacturing and marketing has allowed Silarx Pharmaceuticals to experience steady growth in the category of liquid generic drug products.
Silarx is the first manufacturer of Loratadine Oral Solution (equivalent to the active ingredient of Claritin®) with the FDA approved indication of “Hives-Relief”. Additional key products included in our catalogue are Citalopram Oral Solution (equivalent to the active ingredient of Celexa®) and Fluoxetine Oral Solution (equivalent to the active ingredient of Prozac®). Our mission is to offer our customers and patients a cost-effective generic alternative to brand medicines while providing therapeutically equivalent products and we are committed to manufacturing therapeutically equivalent, generic drug products to meet the needs of our customers.
iContracts Media Contact:
Anne Ambrosio
iContracts, Inc.
Tel: 908-393-9550
aambrosio@icontracts.com