Exhibit 99.1
[VENTIV HEALTH RXCENTRIC LETTERHEAD]
Contacts:
Ventiv Investors:
Laura E. Wilker
Vice President, Investor Relations
(212) 768-8000 (x103)
investor@ventiv.com
Ventiv Media: Rxcentric Media:
Noonan/Russo Communications, Inc. Ogilvy Public Relations
Prateek Pratniak Michelle Linn
(212) 696-4455 (x273) (508) 869-6146
media@ventiv.com michelle.linn@ogilvypr.com.
--------------------------
VENTIV HEALTH PARTNERS WITH RXCENTRIC.COM
IN E-HEALTH INITIATIVE
First Fully-Integrated, Internet-Enabled Pharmaceutical
Marketing and Sales Solution
New York, NY - March 15, 2000 - Ventiv Health, Inc. (Nasdaq: VTIV) and
Rxcentric.com, Inc. today announced a partnership to Internet-enable Ventiv's
integrated, outsourced marketing and sales solutions to the pharmaceutical and
life sciences industries.
Ventiv will leverage Rxcentric's Internet-based communications platform for the
delivery of online medical events, Continuing Medical Education (CME), market
research and detailing support. The combined forces will drive targeted doctor
usage with specialized email campaigns, sales force integration, event
recruiting and other relationship-based communications.
The Companies will jointly develop and market a suite of proprietary, integrated
products and services to pharmaceutical companies. In addition, Ventiv's Health
Products Research (HPR) unit and Rxcentric will jointly offer pharmaceutical
customers proprietary data and consulting services. The new partnership will
enable pharmaceutical companies to plan and execute targeted campaigns across
live and e-channels, closely monitor physician usage and response to sales and
marketing activities, and manage and optimize the impact of ongoing programs.
"We are delighted to have formed this ground-breaking agreement with Rxcentric
and believe they will have the most compelling and comprehensive drug
information resource in the marketplace," said Ventiv Health Chief e-Commerce
Officer Gil Brodnitz. "The Rxcentric solution fully leverages the power of the
Internet to make rich, targeted educational and marketing content available to
doctors efficiently and effectively. In addition, Rxcentric's network of
partners will help extend the reach of our traditional channels. This agreement
will create exciting new opportunities for our pharmaceutical clients to market
to physicians through both live and e-channels."
- more -
VENTIV HEALTH PARTNERS WITH RXCENTRIC.COM
IN E-HEALTH INITIATIVE
The Companies will share in the revenues generated pursuant to a multi-year
agreement that includes substantial revenue and physician recruitment
milestones. Ventiv has also invested $2 million in Rxcentric in exchange for a
minority equity position in the firm.
"Ventiv's comprehensive set of pharmaceutical sales, marketing and research
solutions is unmatched, and this partnership will set a new standard for the
outsourcing industry. We will collaborate with Ventiv to deliver new and
expanded services to their blue chip client base of pharmaceutical and life
sciences companies. This will accelerate Rxcentric's goal of becoming the
leading provider of Internet-enabled pharmaceutical marketing solutions," said
Laurent Fischer, M.D., President and Chief Operating Officer of Rxcentric. "By
integrating our Internet communications platform with Ventiv's broad
capabilities we create a more effective marketing and sales system that gives
each physician the information that is useful and relevant to their prescribing
decisions. Our customers will have an unrivaled ability to improve the
frequency, reach and efficiency of their marketing and sales initiatives in
order to increase their return on investment."
Added Ventiv Health CEO Eran Broshy, "This is the first component of our
comprehensive e-health strategy, which we will build over the coming weeks and
months, and it clearly complements our existing sales, strategic consulting and
analytical capabilities. Our alliance with Rxcentric is a first step in
leveraging the power of the Internet across our primary business platforms, to
enhance the value of our integrated offering, and deliver more powerful,
coordinated solutions to our clients."
About Ventiv Health
Ventiv Health, Inc. is a unique marketing and sales partner providing innovative
strategic and tactical solutions globally for the pharmaceutical and life
sciences industry. The Company reported $345 million in 1999 revenues. Ventiv
offers a broad range of integrated services including: specially designed
strategic marketing plans, educational programs targeted to physicians, and
sales execution utilizing its own extensive sales network. Clients include many
of the leading pharmaceutical companies, including AstraZeneca Pharmaceuticals,
Bausch & Lomb, Baxter, Bayer, Bristol-Myers Squibb, Eli Lilly, Glaxo Wellcome,
Johnson & Johnson, Merck, Novartis, Pfizer, Pharmacia & Upjohn, Roche and
SmithKline Beecham. Ventiv Health employs approximately 5,000 people across the
United States, France, Germany, United Kingdom, Austria, and Hungary.
About RxCentric
Rxcentric.com, Inc. (www.rxcentric.com) provides physicians with rapid access to
-----------------
comprehensive drug information built on trusted authoritative sources, including
the Physician Desk Reference, a detailed drug interaction database, and peer-
reviewed journal articles. The Company's Web site, which will launch later this
spring, is designed to bring together all the information required for
prescription decision-making in a single, convenient, user-friendly format. The
site will also be able to take and fulfill sample orders, access sales
representatives,
- more -
VENTIV HEALTH PARTNERS WITH RXCENTRIC.COM
IN E-HEALTH INITIATIVE
deliver e-CME events, live symposia, current news, literature, and product
updates. In addition to partnerships with leading pharmaceutical companies,
Rxcentric is building alliances with content providers, medical information
sites, and specialty sites such as Beansprout.com and Recoverycare.com.
Rxcentric.com Inc. is a privately held company located in New York City,
spearheaded by alumni of Commonhealth, Dupont, IXL, Netscape, Roche, and
Schering.
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Ventiv
Health, Inc. to be materially different from any future results, performance, or
achievements expressed or implied by such forward looking statements. Such
risks, uncertainties and other factors include, without limitation, the risk
that this alliance will not produce the desired financial and market results,
uncertainties related to the time required to complete development, and the
ability to compete successfully with other services in the same or similar
markets. In assessing such forward-looking statements, investors should
specifically consider various factors, which could cause actual events or
results to differ materially from those indicated in such forward-looking
statements. Readers of this press release are referred to the various reports
and documents filed from time to time by Ventiv Health, Inc. with the Securities
and Exchange Commission for further discussion of these and other factors which
could affect future results.
# # #