Pharmaceutical Pricing in Multiple Indications - You Are Not Alone
The challenges faced by pharmaceutical companies are dynamic and evolve with time. Those who have been in the industry for more than 15 years would agree that the questions that pharma used to face were totally different to the problems faced now. While we used to work towards optimising the opportunity for a pharmaceutical product with the highest potential price, reimbursement and access, the objectives have now changed. The scenarios that we face currently can be bucketed into multiple scenarios.
· Launched 12+ years ago : Finding ways to retain brand value after generic and biosimilar entry
· Launched 8-10 years ago: Preparing for generic and biosimilar entry
· Launched 5-6 years ago: Launching in third wave of countries, price competition, brand value proposition
· Launched 2-3 years ago: Launching in second wave of countries, value communication through additional data impacts on price and value with multiple indication launches
· Launch and future preparation: All of the above and launch price optimisation and sequencing, with an additional challenge that the new products are entering a space which is already crowded with established products and unmet need only in specific populations.
If we summarise the above, most products have the challenge of generics and biosimilars entry and/or competition with others to optimise price and access in multiple indications. Multiple indication launches are common not only in oncology, but also immunology and CNS diseases. With high pressure on budgets, achieving a high price and broad reimbursement can seem like a pipe-dream. However, along with these challenges there are new opportunities of market expansion in new countries such as China, Taiwan and others.
To assess multiple indications, the value of the product is directly proportional to unmet needs in treatment, disease severity, number of patients which infers budget impact, and most importantly its clinical magnitude against current and future competitors. Since differentiation on these aspects vary by the target disease, the current and future treatments and product efficacy, the relative value of the product in different diseases needs to be assessed systematically. The Access Infinity team believes that the challenges of assessing multiple indications is not a unique situation, and to find directional solutions, we have created a tool designed to simplify the process - SMART Match. There is high value in learning from these through analogue analysis using SMART Match. A broad approach with every EMA product listed with its indications helps us to sort them and identify benchmarks for our studies. In addition, mapping time difference between launches, target age demographics, sequence of adult and paediatric population further helps in scenario building. SMART Match ensures the creation of strong hypotheses, providing realistic estimates and country specific strategies for products in multiple indication launches.
If you would like to learn more about this innovative and industry-first tool, please download our brochure here.