Printer Friendly

Leading Life Sciences Manufacturers Renew Verticalnet Subscriptions; Two FORTUNE 500 Pharmaceutical/Medical Device Manufacturers Re-up for Verticalnet On-Demand Solutions.

MALVERN, Pa. -- Verticalnet, Inc. (Nasdaq: VERT), a leading provider of supply management solutions, today announced that two FORTUNE 500(TM) Life Sciences manufacturers have renewed their subscriptions to Verticalnet's on-demand e-Sourcing solutions.

One of the world's largest research-driven pharmaceutical and health care products companies has renewed its subscription to the Verticalnet Program Manager and Negotiation Manager modules to continue to accelerate their sourcing cycles and achieve their aggressive sourcing savings targets, while ensuring process consistency and maintaining a central knowledge base to share best practices throughout their global sourcing organization. The pharmaceutical manufacturer, who has also licensed the Verticalnet Spend Manager module to achieve global spend visibility, has over 1,000 registered users that have completed over 1,300 sourcing events with over 1,500 suppliers since 2003.

Additionally, a $5 billion medical technology company with offices in 50 countries has recently renewed their subscription for the Verticalnet Negotiation Manager module. Since subscribing to the Verticalnet solution, the Company has used the Verticalnet on-demand eSourcing software to host over 130 RFX and reverse auctions events, and has sourced goods and services from 750 suppliers.

"These two renewals are evidence of the value that Verticalnet is delivering to leading Life Sciences companies," said Nathanael V. Lentz, Verticalnet President and CEO. "With increasing pressure to control all areas of healthcare costs, Supply Management has become a critical capability for pharmaceutical and medical device manufacturers. We are pleased that two global Life Sciences manufacturers have renewed their commitment to Verticalnet's on-demand solutions and look forward to helping them continue deploying world-class supply management processes."

About Verticalnet

Verticalnet is a leading provider of supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet has helped numerous Global 2000 companies take their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at

Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC.
COPYRIGHT 2005 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Geographic Code:1USA
Date:May 11, 2005
Previous Article:Institute of Genomics and Integrative Biology Chooses HP Supercomputer to Accelerate Scientific Discovery.
Next Article:Adalis Corp. Announces Completion of Production Assessment for Carter Holt Harvey.

Related Articles
VerticalNet Creates Co-Branding Relationship With to Strengthen Its Presence in the Scientific Community.
VerticalNet and Kelly Scientific Resources to Create Online Professional Development Centers.
Verticalnet Appoints David Greene as Vice President of Sales.
FORTUNE 500 Pharmaceutical Company Licenses Verticalnet Spend Analysis.
Chemicals Manufacturer Adopts Verticalnet XE Supply Management Solutions; Global Manufacturer Follows Successful Pilot Project with Worldwide Rollout.
Verticalnet On-Demand Strategy Aligns with Market Trends Identified by Aberdeen Group; Over Half of Verticalnet Customers Have Already Chosen...
Verticalnet Selected by Leading Pharmaceutical Company to Improve Effectiveness of Global Sourcing and Spend Visibility.
FORTUNE 100 Consumer Products Manufacturer Expands Relationship with Verticalnet; Leading Global Food and Beverage Manufacturer Renews, Expands...
Verticals onDemand and Health Market Science (HMS) Partner to Deliver the First CRM Solution with Pre-Loaded Healthcare Data.
Verticals onDemand and TerrAlign Partner to Deliver Integrated CRM and Sales Resource Optimization Capabilities for Life Sciences Companies.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters