Business challenge
A pharmaceutical company wanted to investigate what the optimal price would be for a new psoriasis treatment they were about th launch.
Specific understanding was required to determine acceptable price to be included on formulary, whilst complimenting other products within their portfolio and providing maximum commercial return.
What we did
We conducted in-depth telephone interviews with CCG-level payers to gather a comprehensive understanding of the local guidelines required for formulary inclusion, and acceptable price point for market entry versus key competitors.
- Interviews with 20 CCG-level payers lasting 45 mins each
- Participants included commissioners, prescribing advisors medicine management, health board pharmacists, GP leads, and AWMSG and SMC members
- Mix of UK regions
- Standardisation of costs to ensure clear interpretation across different formulations
- Perceived Value Pricing (PVP)
- Van Westerdorp
Outcome
Based on the information and insights gained through the interviews, we were able to recommend a premium that would be deemed acceptable for formularies and would also compliment other products within our client’s portfolio.
We were also provided them with information relating to potential positioning their new product in the market for optimal results.