Inpharmation’s Pharma-Specific™ price-demand elasticity research has been developed by experts to overcome the challenges faced when running traditional pharmaceutical pricing research:
- Price-elasticity demand research goes far beyond traditional pricing research, to give you powerful strategic recommendations based on a number of different pricing landscape scenarios.
- Running pharmaceutical price-elasticity demand research when you have a limited number of respondents, in this case limited payers, requires efficient survey techniques.
- Inpharmation’s validated pharmaceutical price-elasticity demand research methods are subject to up to 79% less error than traditional pricing research methods*.
*Independent comparison of two direct pricing methodologies
Reduction in error compared to traditional pricing methodologies.*
- Pharmaceutical lifecycle pricing: Inpharmation’s Pharma-Specific price-demand elasticity research is specific for all stages of your pharmaceutical brand lifecycle pricing, whether you are developing a pricing strategy pre-launch, need to run in-market price optimization due to competitor price tactics or need to optimize prices in the light of further indication launches.
- Going beyond the brand: Inpharmation’s Pharma-Specific price-demand elasticity research can investigate supra-brand pharma pricing effects, investigating whether brand (and biosimilar) pricing strategy can impact usage of the therapeutic class or treatment mechanism.
- Scenario analysis: Inpharmation’s decades of systems modelling experience means project-specific options can include scenario analysis engines and system-modelling simulators.
Of the top-20 global pharma companies use Inpharmation’s pricing solutions.
“[There is a] growing body of evidence to suggest that the simple ‘self-explicated’ method, which is much quicker, easier and less expensive to design and analyse than conjoint, is equal to conjoint in terms of internal and predictive validity. This is potentially an important finding, particularly in terms of its usefulness for studies with larger numbers of attributes, and also for its reported improved reliability in smaller sample sizes.”
NICE and Myeloma UK
Evidence-based approach to price-demand elasticity research
Inpharmation’s Pharma-Specific price-demand elasticity research is the premier solution to pharmaceutical pricing and market questions when your business question needs a fine-tuned quantitative answer. This is because Inpharmation’s research techniques are structured in a precise way, and can be compared rigorously against other structured techniques. In this way, the best techniques can be selected and deployed to help recommend a value-based pricing strategy.
Unstructured interviews cannot be scientifically tested as no two unstructured interviews are ever the same. (Although, we do know from a vast body of empirical research that unstructured judgments produce much worse predictions than structured techniques.)
Inpharmation deploys a range of evidence-based quantitative pharmaceutical pricing and market access research techniques and these can be used throughout the development of a pharmaceutical product. In fact, 70% of the top-20 global pharma companies already use Inpharmation’s pricing solutions.