Pricing strategy no longer ends with pricing and market access research or modelling; to fully understand the potential of your brand to achieve your targets, you need to understand global mechanical pricing mechanisms. Because 7 of the top-10 countries, ranked by pharmaceutical sales, use IRP as part of the pricing and reimbursement agreement process, no pricing strategy can ignore the impact of reference pricing.
Inpharmation has spent decades developing strategic international and internal reference pricing analysis for global pharma pricing and market access teams; all reference pricing reports are built upon a wealth of expert knowledge and a solid evidence-base:
- For new product launches, comprehensive international and internal reference pricing simulations are built into all launch optimization reports, with average real-world revenue improvement recommendations of 2.5%.
- For end-of lifecycle reports; Inpharmation’s database of mechanical internal and international reference pricing changes, along with national prescribing regulations allows helps you to explore the full impact of loss of exclusivity.
- All reports draw upon Inpharmation’s truly global reference pricing rules database with over 3540 bits of reference pricing information.
*Inpharmation-recommended revenue improvements n=33
Scale of real-world recommended revenue improvements from launch sequence optimization module.*
- Full brand lifecycle reports: From pre-launch revenue optimization strategy analysis, through to in-line price erosion minimization and patent expiry simulations. Inpharmation’s reference pricing reports can scale from short-term analysis for when you’re in the midst of active price negotiations, to long-term price-setting strategy.
- Simplify your data collection: When global and regional pricing and market access teams need affiliate input, Inpharmation’s cloud-based solution, Cloud-SheetsTM can integrate the knowledge of 100 affiliate countries into your international reference pricing report.
- Reports from a full-services company: Pricing and market access strategic scenario analysis can require inputs from inputs from your brand forecasting, marketing or business development teams. Inpharmation specialize in all areas of pharmaceutical forecasting and have the expertise to translate these inputs into actionable insights.
Bits of reference pricing information Inpharmation can draw upon for international price referencing analysis.
“Inpharmation's knowledge and quick response to our queries has proven invaluable in developing key commercial strategies.”
Director Trade and Pricing, Top-20 pharmaceutical company
Evidence-based international reference pricing
For the past two decades, Inpharmation has championed an approach to strategic international reference pricing analysis that is built upon a solid evidence-base. This means that all Inpharmation’s reference pricing solutions are based upon:
- The latest international and internal reference pricing methodologies being actively applied.
- Independently-sourced reference pricing data, with direct inputs from national health agencies where available.
- Principles that are actively being applied to minimize price erosion in the real-wold forecasts for top-50 pharma companies.
Included in all Inpharmation’s international pricing project deliverables is delivery and training from Inpharmation; leaders in passing on our knowledge to our customers, in fact 91% of pricing and market access course attendees highly rate our forecasting training.