The right Pricing and Market Access (P&MA) helps identify the best ways for businesses to deliver value to customers and attain commercial success.
Our client, a pharma manufacturer, needed P&MA input for one of its products. Alongside a P&MA opportunity assessment, the client wanted an actionable market plan for the EU that would also provide clarity on organizational and capital requirements.
With our extensive P&MA experience, we knew we had to focus on three key areas for this project to be successful.
1. Market access and pricing landscape
One of the first steps toward identifying commercial opportunities is to evaluate the market landscape. We concentrated on market- and therapeutic area-specific payer priorities and budget impact. The market research also involved payer management and reimbursement as well as government regulations and impact on market access, and attainable pricing.
2. Commercialization benchmark
We then proceeded to assess the commercial potential of our client’s product. We benchmarked it against other start-ups that have marketed their product in the EU by themselves. This helped us gain better understanding of our client’s business performance and potential for their product.
3. Commercialization requirements
In this third stage, our team developed a strategy to ensure the product is marketable. We worked on the commercial infrastructure and associated costs as well as headcount in necessary functions and organizational build-up. We developed this strategy carefully, analyzing project profitability through NPV-based on revenue forecast and commercialization cost estimates.
We presented a go-to-market strategy with guidance on how to attain optimal pricing and product value. We identified the priority therapeutic areas and markets in EU.
Further recommendations included the necessary conditions for taking the product to market alone based on different strategic decision criteria and timeline for building key functions.
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