Selects Edge Dynamics to manage fee-for-service agreements, chargebacks and returns, enhance product tracking
Redwood City, CA — December 12, 2005 — The pharmaceutical company Purdue Pharma L.P. has selected Edge Dynamics' enterprise software solution to manage its fee-for-service agreements, chargebacks and product returns, as well as enhance product tracking capabilities rolled out in its radio frequency identification (RFID) electronic pedigree initiative, announced earlier this year.
Purdue is known for its pioneering research on persistent pain. Because of the potential for misuse of its pain medications, Purdue has been one of the most vigilant pharmaceutical companies in the fight against counterfeiting and diversion. With the addition of Edge Dynamics' solution, Purdue said it will augment its product tracking capability and maximize the impact of its existing RFID investment. It will do so by utilizing Edge Dynamics as a bridge for integrating RFID into its mainstream business operations and agreements.
"We needed to establish more effective data management in the fee-for-service environment and selected Edge Dynamics because of the company's considerable experience in this area, as well as its ability to deliver an out-of-the-box solution that meets our needs," said James Lang, executive vice president of Field Operations and Marketing, Purdue Pharma. "With this solution, we expect to be able to manage a wealth of data efficiently."
In addition to providing Purdue with domain expertise and insight on structuring the agreements, the Edge Dynamics solution is expected to provide a channel scorecard for managing such elements of fee-for-service agreements as inventory, revenue adjustments, service levels and data quality.
"We are excited to be working with an industry thought leader like Purdue Pharma. We are pleased that with our solution, Edge Dynamics will play a critical role in helping Purdue ensure brand protection for their core product offerings through fee-for-service agreements," said Greg Cathcart, vice president and general manager of Life Sciences for Edge Dynamics.