Value Based Pricing in Pharma

#1 Key pricing principles with pharma case study examples
1. Saying 'no'
2. Endowment effect
  1. Segmentation
  2. Hurdles to switching
  3. Brand equity
3. Bundling
  1. Integrated health solutions
4. Selling on value
5. Differential pricing
  1. Wilingness-to-pay
  2. Profiling
  3. Using distribution channels
#2 What makes pharma different when it comes to pricing?
1. Government v private payers v people
2. Spending other people's money
3. Perceived value & HTA
4. Product lifecycle management - generics v biosimilars
5. Great diversity of diseases and technologies, and hence pricing situations
6. Current international interest in value based pricing in pharmaceuticals, and impact on me-toos
7. International versus national issues, reference pricing and parallel imports
8. Multiple stakeholders and complex distribution
9. High up-front investment
10. DTC restrictions & brand building
#3 Developing value based pricing strategies for your needs
1. Research methods
2. Collecting data & proper interpretation of metrics
3. Sales Support systems
4. Focusing sales and marketing staff on value
  1. Right messages / arguments
  2. Set sales incentives well
5. Avoid fear-based pricing
6. Price elasticities
#4 Current directions in pharma pricing
1. Sophisticated conjoint methods
2. Big Data
3. Online ordering systems
#5 Final Words
1. Pricing is a creative scientific process
2. Good pricing is about doing many things well
3. Pricing is a core business skill which can have a vast impact to the bottom line

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Value Based Pricing in Pharma

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	Created by peter.winters about 11 years ago