Abstract
The pricing landscape has changed dramatically over the past decade. In the
1990s and even a few years ago, pricing was almost an afterthought - pricing
plans were formed and carried out during ramp-up to product launch; there was
less regulatory scrutiny; the concept of health outcomes analysis was still
taking shape, and any pharmacoeconomic data that companies were able to
provide was better than none. Today, however, strategic pricing is more
important than ever before. Pharmaceutical and biotechnology companies'
pricing teams contend with unrelenting pressures. They must manage increased
scrutiny from different sides - government agencies, the media and the public
- over pharmaceutical pricing, while meeting multiple stakeholders' needs:
third-party payers, physicians and patients. Adding to the complexity are
ever-rising clinical development costs and shrinking pipelines in a constantly
changing, global marketplace.
As a result of these challenges, pharmaceutical pricing has become
payer-driven and value-based. But life sciences companies are also recognizing
the vital importance of strategic pricing. Rather than coming at the tail end
of a drug' s development, pricing planning is being integrated into drug
development. The pricing department, in fact, is now a key driver in lifecycle
management.
Outcomes-Based Pharmaceutical Pricing: Meeting Stakeholder Needs examines
these industry trends. It provides action items to resolve pricing
departments' most pressing problems. Above all, it shows how forward-thinking
companies maximize profits by addressing customers' preferences and ensuring
that they set the right prices for their products.
Use the report to:
- Maximize pricing departments' strategic capabilities
- Improve pricing decision making
- Streamline the pricing process
- Coordinate pricing and launch sequence strategies
- Improve cross-functional communication and involvement in pricing plans
- Benchmark pricing department resources
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