Co-creating the design of risk-based managed entry agreements with payers
- March 3, 2017
Discussions around risk-based managed entry agreements are growing, but only a few of these discussions come to fruition. Such agreements entail risks for both payers and manufacturers. Often, payers do not have the resources or capabilities to perform extensive risk evaluations and standardise value assessment across the board. Subsequently, many payers are sceptical of innovative […]
Patient advocacy as a strategy for orphan drug access
- February 25, 2017
Governments have integrated incentives to accelerate and promote the approval of orphan drugs and the interest among pharmaceutical companies to develop these products is rising. However, expedited regulatory approval is by no means an assurance that orphan drugs will succeed in the marketplace.
Formulary lock out in the US
- January 29, 2017
Patients in the US often hear the term ‘drug formulary’ when they go to see their physician. A formulary, essentially, is a list of prescription medicines that are readily available in the hospital or that are covered by the patient’s drug insurance plan. The contents of formularies provide a strong reflection of the business priorities […]
Understanding payer archetypes
- January 24, 2017
One-size-fits-all has become an outdated and non-recommendable approach in pharma business. During the period of blockbuster medical products, this approach was applicable – the wider drug developers cast their net, the greater the chances of expanding their market share. Another merit to this approach was that it made strategy development relatively less complex for pharma […]
Challenges for the adoption of value added medicines
- January 9, 2017
Pharmaceutical and life science companies are confronted with increasing competition while working with limited resources, driving the need to improve their internal capability to innovate. Developing new innovative products, however, requires investments, commitment, time, and product potential. How can companies simultaneously work within budget and deliver innovation and value? This dilemma is fuelling the need […]
Training for market access teams
- December 20, 2016
With a growing number of companies bringing a host of new products into the healthcare market, payers are more determined than ever to scrutinise drug prices and reimbursement. Payer demands are increasingly dominating the business decision-making processes of pharmaceutical companies. Leaders in pharma are shifting their organisations away from a purely sales orientated approach towards […]
Taking a multipronged approach to commercialisation of assets
- November 15, 2016
Pharmaceutical companies invest in pipeline assets that are scientifically attractive. In reality, only a fraction of assets in development make it to market. The success rate of asset developmental candidates from 2006 to 2015 was reportedly only 9.6%.1 At every phase of asset development, there is a risk of failing to proceed to the next […]
Value-Based Pricing – the way forward?
- November 8, 2016
In an effort to contain costs and avoid the over-valuing of products, payer organisations in the pharmaceutical and life science industries have made price setting a standard practice. One solution that potentially prevents over-valuation of medicines is External Reference Pricing (ERP). However, with greater amounts of data due to research and technological developments, increased adoption […]
Big data insights for market access: To trust or not to trust?
- October 3, 2016
Big data reportedly houses so much clinical and commercial insight that, once unlocked, it can increase our understanding of customers and markets, while also informing the design, development, and marketing of biopharmaceutical products and services. It can also drive positive health and economic outcomes. With tremendous volumes of data, companies have more resources (in the […]
Curbing non-adherence with PRO data
- September 23, 2016
On average, it is estimated that over 50% of patients eventually abandon their treatment. Patient-reported outcomes (PROs) could facilitate efforts to reduce these figures. Defined as any data coming directly from patients about how they feel or function in relation to a health condition or its treatment – with no clinician interpretation to remove the […]