Leading Indian pharmaceutical company to manage U.S. operations gowth with contract management, Medicaid management solutions
Edison, NJ — September 15, 2004 — The pharmaceutical company Wockhardt today said it has has selected I-many Incentives and I-many Medicaid to automate and streamline key contract management processes.
Established nearly four decades ago, Wockhardt Limited today is among India's top research and technology-oriented pharmaceutical companies. Wockhardt has emerged as a leading player in domestic as well as international markets, with widely accepted and efficacious drugs and formulations. The company has developed leading brands in Anti-infectives, Pain & Inflammation, Cough, Psychiatry, Medical nutrition and Biotechnology segments.
According to Arthur Maher, president of Wockhardt USA, "Wockhardt is a rapidly growing pharmaceutical company, especially as it expands its U.S. operations. As a result of this expansion, Wockhardt must position itself to participate in and comply with various government-mandated programs, such as the Medicaid Drug Rebate program."
Maher said the capacity to track detailed contract terms and payments and process Medicaid rebates is of vital importance to his company. "I-many's strong domain expertise, its 15 years of experience in the Life Sciences industry and the unparalleled capabilities of its products made them an obvious alternative for Wockhardt," he explained.
Terry Nicholson, chief operating officer of I-many, went on to say that I-many has already helped several pharmaceutical companies that are entering the U.S. market set up the infrastructure required to manage their contractual agreements and ensure compliance with various regulations. "Our products will allow Wockhardt to store all of their commercial agreements, automate the process of calculating rebate payments to customers and process all Medicaid rebate claims," he said. "We look forward to partnering with Wockhardt to deliver the automation that will help them enter into more strategic customer contracts, increase market share and profitability, and propel Wockhardt into a leading pharmaceutical company in the United States."