Press Release:
palmOne, Inc. (NASDAQ:PLMO) today announced that ImpactRx, an innovative provider of market insight to the pharmaceutical industry, has purchased several hundred Treo(TM) 600 smartphones from palmOne for its longitudinal physician network. [Ed note: In another press release by Sprint regarding this same purchase, it is noted that ImpactRx plans to outfit more than 1000 physicians with Treos on Sprint by March 2005] The devices will be used to collect information that is used to measure the relationship between pharmaceutical sales activities and physician prescribing behavior.
A palmOne customer since 2001, ImpactRx will add the Treo 600 to its current portfolio of mobile devices, which currently includes Zire(TM) and Tungsten(TM) handhelds from palmOne. Physicians can take advantage of the Sprint nationwide high-speed network to quickly and easily download information to the ImpactRx database.
"The Treo 600 has enabled us to develop an effective solution tailored to meet our clients' needs, as well as provide terrific benefits to our physician members," said Patrick Bergin, senior director of network operations for ImpactRx.
"Having used a laptop for transmitting information, and now having the opportunity to use the Treo 600, I can personally attest that the Treo 600 is a hands-down favorite," said Dr. Alexander Higgins, a physician panel member since 2001. "It makes it much easier and more convenient to collect and transfer data seamlessly from my Treo 600 to ImpactRx. Plus it gives me the added benefit of being able to keep in touch with my patients."
ImpactRx has a network of several thousand physicians across the United States who use electronic technology to collect pharmaceutical promotion activity and patient treatment decisions for every pharmaceutical product currently marketed. By providing physicians with a completely mobile device to record prescribing decisions and pharmaceutical sales calls, ImpactRx is able to capture valuable information that helps the pharmaceutical industry develop effective sales and marketing strategies for their products.
Pharmaceutical companies spend about $1.5 billion each year on data to track the prescribing habits of physicians. However, prescription information is not available to the industry for up to four to six weeks after the prescription is written. Industry experts say drug makers have a hard time understanding the interplay between their sales activities and physician prescribing behavior. The Treo 600 with ImpactRx proprietary software enables immediate transmission of this information to the ImpactRx database.
"The Treo 600 is a key element in facilitating the transmission of data from physicians to our database," said Bergin. "It happens almost instantaneously. We are able to produce comprehensive, accurate reports for our customers very rapidly. The Treo 600 keeps us at the cutting edge."
"Competitive research is vital in the pharmaceutical industry, and palmOne is delighted to help ImpactRx address and assist in its research needs," said Gail Moody-Byrd, director of healthcare and general business marketing for palmOne. "The wireless capabilities of the Treo 600 smartphone allow for fast, accurate transfer of data, as well as simplify the process for physicians."
About ImpactRx, Inc.
Founded in October 2000, ImpactRx's physician network is the only source of longitudinal data coming from a fixed panel of high prescribing physicians. ImpactRx provides unprecedented intelligence capability for tracking the promotional initiatives of the pharmaceutical industry and determining their impact on physician behavior. Based in Mount Laurel, New Jersey, ImpactRx (www.impactrx.com) is a private company with investment financing provided by Mediphase Venture Partners (www.mediphaseventure.com), Oxford Bioscience Partners (www.oxbio.com), Merck Capital Ventures (www.merckcapitalventures.com), and 3i (www.3i.com).
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