Raritan, NJ – March 20, 2012 – iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced that Akorn, Inc., a niche generic pharmaceutical company, has selected iContracts’ full suite of solutions to manage commercial contracts and help insure compliance with Government Pricing programs including Medicaid, 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 Chargebacks, Rebate Payer, Medicaid Payer, Government Pricing, and Reporting & Analytics.
Scott Grossenbach, Mgr. Financial Operations at Akorn commented, “After a comprehensive evaluation of software platforms to manage Akorn’s chargeback, rebate and Government Pricing processes, iContracts and their complete suite of solutions were selected due to key factors including ease of use, automation, flexibility, and the unique ability to be implemented quickly without an army of outside consultants. We look forward to working with iContracts’ experienced team of professionals on this important initiative for Akorn.”
Leigh Powell, Chief Executive Offer of iContracts stated, “We are thrilled to have earned the trust of another leading pharmaceutical manufacturer to provide a full range of solutions for managing complex commercial and government contract processes. Akorn is committed to serving its customers by providing an extensive line of affordable, safe and effective pharmaceuticals across several key market segments, as iContracts is committed to providing better contracting solutions to pharmaceutical manufacturers around the globe.”
iContracts solutions are available as on “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 executive 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 Akorn, Inc.
Akorn, Inc. is a niche pharmaceutical company engaged in the development, manufacture and marketing of multisource and branded pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey where the Company manufactures ophthalmic and injectable pharmaceuticals. For more information, please visit the company’s website at www.akorn.com.