Raritan, N.J. – Aug 10, 2010 — iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced that Cypress Pharmaceutical, Inc., a manufacturer of generic and branded pharmaceutical products has selected solutions from iContracts to manage commercial contracts including chargeback and rebate validation/processing, and to help insure compliance with Government Pricing programs including Medicaid, Medicare, state programs and associated calculations and reporting. Cypress will also deploy iContracts Dashboard and Reporting solutions for analyzing contract performance and will take advantage of 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.
Chris Boone, controller of Cypress commented, “After a thorough review of alternatives, it was clear to us that the iContracts suite of solutions were by far the best fit for Cypress. In addition to being highly scalable, flexible, and much more automated, the time to value and far lower initial and ongoing investment set iContracts apart from the field. We were equally impressed by the knowledge and experience of the iContracts team and have great confidence in their ability to help us navigate the implementation process. We look forward to working with iContracts on this important project to support our rapid growth and long term objectives.”
A. Leigh Powell, Chief Executive Officer of iContracts commented, “iContracts is pleased to welcome Cypress Phramaceutical to our rapidly expanding roster of leading pharmaceutical manufacturers. Cypress, like so many of our clients, understands the value iContracts’ Better Contracting Solutions platform has delivered across the industry and managed their selection process with a keen eye on the benefits of implementing a solution that is simply easier to use, deploy, and maintain – with a far superior value proposition. iContracts looks forward to working closely with Cypress to quickly implement and drive value from our solutions as they continue to expand and deliver new products to the marketplace.” 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
iContract’s 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 more experience in building contract management solutions for the Life Sciences industry than anyone on the planet! 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 Cypress
Cypress Pharmaceutical, Inc., founded in 1993, is a specialty pharmaceutical company that develops, markets and distributes generic prescription pharmaceutical products to leading national pharmaceutical wholesalers, chain drug stores, distributors, and other retail merchandisers. Cypress currently markets over 150 products, and has an aggressive product development pipeline including new drug applications (NDAs) and abbreviated new drug applications (ANDAs) with over 30 products in various stages of development. Additional information about Cypress is available at www.cypressrx.com
iContracts Media Contact:
Anne Ambrosio
iContracts, Inc.
Tel: 908-393-9550
aambrosio@icontracts.com