Top 10 Biopharmaceutical Company Selects Model N’s GPM Solutions

Life Sciences industry continues to demand an end-to-end, enterprise class solution to manage timely global pricing REDWOOD SHORES, CA – December 19, 2013 – Model N, Inc. (NYSE: MODN), a leading [...]

Life Sciences industry continues to demand an end-to-end, enterprise class solution to manage timely global pricing

REDWOOD SHORES, CA – December 19, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today announced that a top ten biopharmaceutical company has selected Model N Global Price Management (GPM), the rebranded offering of Model N’s International Reference Pricing (IRP) solution, as a foundation to drive strategic global pricing. Model N believes that its GPM solution is the only enterprise-grade, Software-as-a-Service (SaaS) offering for global price management in the life sciences. Model N GPM is purpose-built to fully automate global reference pricing processes between life sciences pricing and market access teams worldwide. In an industry where timing is everything, the solution will eliminate time consuming inefficiencies that arise during the data-to-information-to-execution stages across global pricing.

Model N GPM helps pharmaceutical, biopharmaceutical, and medical device companies that sell into multiple countries maximize revenues by reducing price erosion and comply with global pricing regulations. With recent customer go-lives and a new product release, Model N GPM is well-positioned as the emerging standard solution for life sciences companies. Pricing and market access teams leverage Model N GPM to realize better prices, execute global pricing strategies more effectively, and drive global price governance.

The decision to select Model N GPM came after the company realized its need for an end-to-end global pricing and market access system that could integrate into its existing SAP ERP system. The company realized it could no longer evaluate local country pricing and launches without projecting the impacts on referencing countries, and their overall worldwide business. Model N’s GPM solution was chosen to allow the company to better manage pricing governance, facilitate a true picture of pricing with a global pricing database, and make timely global pricing decisions alongside shifts in the market. Implementation is slated to span across a couple of quarters from kick-off to go-live.

Current approaches to global price management often include spreadsheets, homegrown solutions, or ad-hoc consulting projects. There are many disadvantages to these alternatives such as inaccurate or lagging data, slow time to value, lack of flexibility to market fluctuations, and low or no visibility into the impact of global price changes. In a recent survey*, more than half (58 percent) of pharmaceutical company respondents believe the challenges of global drug pricing are not well understood across their business, significantly hampering efforts to reduce revenue leakages and margin erosion. Further, the need to link pricing strategy with price execution is seen as the biggest challenge in implementing a successful global pricing initiative (cited by 36 percent), followed by a lack of clear, unified processes and governance (cited by 28 percent).

“Ministries of Health in European countries, with also parts of Latin America and Asia, are accentuating their pressure on drug prices and are resorting to price referencing more frequently. In this more complex, more dynamic environment pharmaceutical manufacturers need to make quick strategic pricing decisions that minimize margin erosion – this requires an easy-to-use, integrated solution that ensures data quality, global collaboration, and systematic simulation analysis,” said Ali Tore, vice president of strategic markets at Model N. “Model N GPM gives our customers the confidence that they can accurately monitor future price changes and eliminate unwanted repercussions in other markets.”

“We are excited to welcome another pharmaceutical giant to the Model N family,” said Chris Larsen, senior vice president and chief sales officer at Model N. “Industry leaders such as these are embarking on a mission to drive cohesive global pricing strategies, and we look forward to supporting them as a strategic partner.”

About Model N Global Price Management

Model N Global Price Management helps global manufacturers mitigate reference pricing risk and profitability erosion through a powerful combination of data management, software applications, and best practices, including:

  • Global Pricing Database: Manage price lists, calendar of price events, fx rates, volume forecasts in a single global repository
  • Rule Definitions & Calculations: Consolidate reference pricing rules — country baskets, formulas, timing, channel, formal/informal, etc.
  • Global Price Governance: Administer user roles and rights; manage approval routes; trigger alerts, acknowledgement or escalation
  • Simulation Analytics & Reporting: Access price change impact reports and referencing country reports, create ad-hoc reports and charts
  • Launch Optimization: Identify best combinations of launch date and price in each country
  • Cloud Delivery: Optimize time to value and reduce capital outlays through rapid cloud deployment; built on the force.com platform

*Worldwide poll of 700 senior life sciences professionals taken by Model N at a recent eyeforpharma webinar

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About Model N

 

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

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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.

New Release of Model N Global Price Management Helps Drive Even Better Price Execution, Collaboration, and Governance

SaaS solution now includes new tracking and mapping features, deeper customization, and enhanced visibility to manage complex pricing mechanisms REDWOOD SHORES, CA – December 12, 2013 – Model N, [...]

SaaS solution now includes new tracking and mapping features, deeper customization, and enhanced visibility to manage complex pricing mechanisms

REDWOOD SHORES, CA – December 12, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today announced updates to its global price management offering for life sciences manufacturers. Model N Global Price Management, is an enterprise-grade SaaS solution that helps pharmaceutical and biopharmaceutical companies that sell into multiple countries maximize pharmaceutical prices, and reduce margin erosion. The latest version provides users with an updated launch tracker feature for capturing and tracking launch-related dates, price level mapping to keep track of price levels across all countries, and new settings for deeper levels of approvers and more customized data visibility.

“Model N Global Price Management is a true SaaS solution, giving us the flexibility to deliver new features as they are requested by our customers,” said Arnaud Grunwald, strategic market initiative executive for global pricing and market access at Model N. “The features that are now available to our customers provide an even deeper level of detail and customization to help pharmaceutical companies reduce the cost of delivering healthcare to patients by controlling product pricing at a global level.”

Key product enhancements include:

  • Launch Tracker: Gives global market access and pricing teams the ability to collaboratively capture launch-related dates (such as market authorization date, price submission date, price publication date, reimbursement submission date, reimbursement approval date), as well as launch prices. The information is consolidated into easy-to-use reports and made available for launch bench-marking.
  • Price Level Mapping: Allows users to map all price levels across all countries in order to create accurate cross-country reports and effectively compare similar price levels across countries, allowing users to better understand how different countries might refer to the same price level while producing a more holistic view of prices from country-to-country.
  • Increased Approval Levels and Data Visibility: Managers can now set up to 10 levels of approvers and up to five users in each level in the price change request process. The new release also gives users the ability to set a user’s data visibility based on product family, giving them access to data for the countries and product families they are assigned to. This significantly simplifies the look and feel of the application while protecting confidential data.

Resources:

Model N Global Price Management

Model N Blog: Global Market Access’ Path to being a True Competitive Advantage

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

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.

Model N to Present at the J.P. Morgan SMid Cap Conference

SaaS solution now includes new tracking and mapping features, deeper customization, and enhanced visibility to manage complex pricing mechanisms REDWOOD SHORES, CA – December 3, 2013 – Model N, [...]

SaaS solution now includes new tracking and mapping features, deeper customization, and enhanced visibility to manage complex pricing mechanisms

REDWOOD SHORES, CA – December 3, 2013 – Model N, Inc. (NYSE: MODN), a leading revenue management solutions provider to the life science and technology industries, today announced that Sujan Jain, Senior Vice President and Chief Financial Officer, will present at the J.P. Morgan SMid Cap Conference in Chicago, IL.

This presentation is scheduled for Tuesday, December 10, 2013 at 3:45 p.m. Eastern Time, or 12:45 p.m. Pacific Time. A live webcast of the presentation will be accessible from the investor relations page of the Model N website at http://investor.modeln.com/.

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

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.