REDWOOD CITY, CA -- (Marketwired) -- 08/06/15 --
Model N, Inc. (NYSE: MODN), the leading provider of cloud-based Revenue Management solutions to life science and technology industry leaders, today announced Glenmark Pharmaceuticals Inc., USA, one of the nation's leading generics pharmaceutical companies, has selected Model N's end-to-end suite of Revenue Management Cloud applications.
Glenmark Pharmaceuticals chose Model N's Revenue Management Cloud applications to further strengthen its ability to meet key business objectives, which include maintaining compliance with U.S. government pricing laws and regulations, expanding its generics business, and continuing to grow revenues while maintaining full visibility into its contractual agreements.
"At Glenmark, we believe that revenue growth alone is not enough to succeed. It is equally important to effectively and efficiently enable it with the right mix of systems and processes to grow profitably," said Robert Matsuk, President, North America and Global API Business, Glenmark. "After conducting a thorough evaluation, we chose Model N as our trusted strategic partner to support our growth, execute innovative contractual relationships with key customers, and maintain regulatory compliance."
Added Mr. Matsuk, "Model N has a proven track record with some of the largest names in life sciences. We are pleased to enter into this strategic partnership with this market leader to enhance value to our business and customers."
Model N's enterprise solutions for life sciences help transform the revenue lifecycle from a series of disjointed operations into a strategic, end-to-end process. Many of the world's leading pharmaceutical brands -- including Abbott, Amgen, AstraZeneca, Merck and Novartis -- rely on Model N to maximize their revenues by maximizing sell time, revenues per opportunity and overall volume of opportunities.
"Many leading generics manufacturers such as Glenmark rely on Model N to accommodate evolving market strategies, including their expansion into new channels, to more easily scale data volumes associated with growing product portfolios, and importantly to minimize compliance risk," said Zack Rinat, Founder, Chairman of the Board and Chief Executive Officer at Model N. "Our customers recognize Model N as the standard for revenue management in life sciences -- spanning small to medium-sized businesses to the world's largest brands, and including pharmaceuticals, both branded and generic, bio-tech firms and medical device manufacturers."
Glenmark Pharmaceuticals Inc., USA (NSE: GLENMARK) is the North American division of Glenmark Pharmaceuticals Ltd. Since its first product launch in 2005, the company has emerged as one of the leading generic organizations in the country. The business has grown at a consistent rate with a robust portfolio of products that have doubled nearly every year. Its focused presence in niche segments -- including dermatology, hormones, controlled substances and modified release products -- has helped ensure a sustainable market opportunity and continued profitability. For more information, see http://www.glenmarkpharma.com/usa.
About Model N
Model N is the leader in Revenue Management Cloud solutions. Model N helps its customers maximize their revenues by maximizing sell time, revenues per opportunity and number of opportunities. Model N Cloud solutions manage every dollar that impacts the customer's top line and transforms the revenue lifecycle from a series of disjointed operations into a strategic end-to-end process. With deep industry expertise, Model N supports the unique business needs of life science and technology companies across more than 100 countries. Global customers include: Actavis, Allergan, Amgen, Atmel, Boston Scientific, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: http://www.modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.
Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.
Source: Model N