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Price Optimization: A Global Strategy for Local Markets

August 22, 2017

Developing a successful yet sustainable and defensible international strategy for pricing for pharmaceuticals is becoming an increasingly more complex challenge worldwide. With many payers across the globe opting for a different approach to value measurement, it can be difficult to realize the best price to maximize revenue.

Price optimization of just 1% is the equivalent to a 10% increase in profit, yet most pharmaceutical companies only award themselves an average of just 56% for the effectiveness of their current pricing function. To develop a global pricing strategy, it’s important for companies to overhaul outdated models in favor of new ones which: 

• Integrate health economics early 
• Generate evidence to demonstrate value and optimize price 
• Anticipate and manage the “price waterfall” 
• Devise the optimal launch sequence 
• Monitor and respond to price fluctuations post-launch 

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