The business model of the pharmaceutical industry with a third party and often public payer has always puzzled people. The patients who benefit from treatment with a medicine pay part or even nothing of the cost. Within this constrained environment, pricing is more important than ever. To set a price too high may block market access, to set a price too low will leave money on the table.
Getting the price wrong on a new drug can greatly impact its potential success. For example, if it is priced too high, physicians and payers may shy away from prescribing or reimbursing it because they might perceive that the drug provides too little benefit for the added cost. Ironically, if a new drug is priced at a discount to an existing therapy, it might also be avoided because the lower price might imply inferiority. But the goal for any pricing discussion is simple: how do we optimise revenues for this new medicine?
If you want to learn more about the aspects of pharmaceutical pricing and how to optimise revenues, you can attend on a unique 2-day practical and interactive training so you stay ahead on your competition in the pharmaceutical sector.
Learn from an international well-known expert, Raf De Wilde, with more than 20 years in-company global pricing experience. He understands the role of pricing in the current market access environment and recognises what pricing activities over the product life cycle are needed for achieving optimal business results.
Attendees will be able to systematically identify opportunities for their companies after having followed this course.
You will gain a thorough understanding of all aspects of global price setting so that you can better explain the price of your pharmaceutical product. You will also master the modelling aspects of pharmaceutical pricing, and learn how to take cross border trade and reference pricing aspects into account. Furthermore, you will acquire the practical knowledge you need to be able to work out price competition strategies that defend the bottom line.