Inpharmation’s international reference pricing simulators have been developed over two decades, specifically for the strategic analysis requirements of global pharma pricing and market access teams. 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 is the leading provider of strategic international pricing solutions for the pharma industry; all IRP strategy simulators are built upon a wealth of expert knowledge and a solid evidence-base:
- All IRP strategy simulators include access to a detailed international reference pricing rules database covering a system of >90 countries, to make sure your forecasts are based on full-system data.
- Fully comprehensive international reference pricing simulations built into all launch optimization modules with average real-world revenue improvement recommendations of 2.5%.*
- The majority of the top-20 pharma industry already use Inpharmation’s international reference pricing solutions to run strategic price forecasts.
*Inpharmation-recommended revenue improvements n=33
Scale of countries included in the international price referencing database included in your Flexi-IRP subscription.
- An effective solution: the accuracy of your international pricing forecasts is based upon the quality of your market knowledge. Inpharmation provides access to a global reference pricing rules database with over 3540 bits of reference pricing information. Not only that, but as changes to the system occur, the quality of your strategy simulator is maintained with included software updates.
- A low-risk and trusted solution: because it has evolved over decades to meet the requirements of the pharma industry.
- The most adaptable solution: Inpharmation’s IRP strategy simulators are scalable to meet your needs. Indeed, both the largest pricing and market access teams of over 30 users and teams with just one member currently benefit from our customized solutions.
- An integrated solution: because the international reference pricing simulator can easily hook up to any existing pricing, forecasting and exchange rate databases that you may have, we make sure that your time is free to think about your pricing strategy, not software maintenance.
- A team-centred solution: 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 in a single click.
Scale of average real-world recommended revenue improvements from launch sequence optimization module.*
“Inpharmation's approach to IRP offers an intuitive and comprehensive approach to modelling the complexities of the IRP environment. Their tool enables rapid "what-if" scenario analyses that simply could not be investigated without such a tool.
From the results we have been able to develop a number of informed strategies that have significantly reduced the impact of price erosions across Europe.”
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-world forecasts for top-50 pharma companies.