#FutureReadyHealthcare
US biopharma gains payer insights across multiple countries to drive better margins
Challenges
The Customer was launching their solid oral product in an established, competitive disease state, and wanted to
Gain payer insights into drug pricing and optimize PRMA in multiple countries
Understand the impact of different net price strategies
Understand what messages resonate with payers
The Solution
We used our proprietary payer panels, consisting of 100+ experts in the US and 30 experts in the EU, to conduct research on how payers would likely assess and cover products based on their value, positioning, and economic benefits. Our interviews identified perceptions of essential unmet needs in the disease state and the value drivers within it.
We reviewed and assessed product value by probing on clinical merits and critical attributes within the product profile. We investigated unaided expectations of the price range, and analyzed how different price ranges may influence specific actions.
We also shared insights on leveraging different net price strategies to support target coverage and utilization management.
Outcomes
The competitive intelligence provided by us led to a more structured pricing strategy, and the client was able to position it as a differentiated product in an extremely competitive environment. Moreover, the price range was adjusted upwards of 50% based on findings, and therefore better margins.