We conducted a pricing strategy assessment for a mid-sized international pharmaceutical company in the process of developing a new product in a specialty therapeutic area. The project included interviews with 25 pharmacy directors and 25 physicians, covering 209 million lives in the United States and ten payers in the EU5.
Our assessment’s objective was to develop a launch price strategy for their new product that included gross and net pricing approaches across six countries and a roadmap considering key pharmaceutical pricing elements. We tested multiple price points with various stakeholders to define value, positioning, and the necessary clinical and economic benefits that were consistent with the company’s goals and objectives for their global product.
In addition to primary research, we performed an analysis of the market landscape to gauge competition and reimbursement positioning for a specialty disease. We evaluated PRMA approaches for several additional analog products to determine positive and negative lessons for novel agent strategies in each country similar to the agent of interest.
To provide the final recommendation, we synthesized our primary and secondary research into a model calculating various gross-to-net scenarios for each price point enabling our clients to estimate volume and price trade-offs for the product. This analysis enabled a final pricing strategy recommendation and roadmap for each of the six countries.
The outcome of this project saw our pricing strategy implemented, launch PRMA goals met, and revenue goals exceeded.
