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Top 3 considerations for market access teams renewing their pricing database

Top 3 considerations for market access teams renewing their pricing database

Thursday, 20th June, 3pm BST

About

Is your pricing tool giving you everything you need to answer your biggest market access questions, and quickly?  

Although many market access teams have a pricing solution in place, we often hear that they face these challenges:  

  • There’s limited or no data on the clinical evidence supporting prices which means no context or rationale for a brand’s price.
  • The tools lack forward-looking capabilities to monitor future launches and model potential price evolution
  • Rows and rows of data with limited visualisation make it difficult to interpret, leaving teams asking, “so what?”    
  • They’re using an archaic, legacy tool which is clunky and difficult to navigate.   
  • Poor UX design means the solution is not intuitive and is time-consuming to use.  
  • There are limited development plans for the tool, meaning no integration of new technologies like AI.  

The good news? We’re here to help you unlock your full potential and become the access and pricing hero your company needs.  

In this webinar, our Product Owner Tom talks through the top considerations for anyone who wants to supercharge their existing pricing capabilities with all the data and insights they need at their fingertips.  

Sign up for our live webinar on Thursday 20th June at 3pm BST to learn more.    

Sign up for “Top 3 considerations for market access teams renewing their pricing database"

Complete the form to book your place – we look forward to seeing you there.    

Categories
Webinar

5 access & pricing questions you can answer in minutes with Nuro  

5 access & pricing questions you can answer in minutes with Nuro  

On-demand

Speakers

Tom Gilboy

Product Owner, Market Access

Russ Leslie

Head of Sales

About

What is my Phase II asset’s price potential?  

What are payers’ evidence expectations for this indication?  

And what can I do to improve my product’s PMA potential? 

 

In this webinar, we showcase you how Nuro can answer all your complex questions, fast.  

 Watch the recording to discover how to:  

  • Answer your biggest market access questions across price, evidence and access 
  • Speed-up analogue analysis  
  • Rapidly understand price and HTA potential of early and BD assets 
  • Go beyond with net price forecasting, competitor tracking and evidence benchmarking 

…And more! 

 

To receive a link to the recording, complete the form below. 

Watch “5 access & pricing questions you can answer in minutes with Nuro"

Complete the form and a member of our team will be in touch with the recording.   

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Blog

What is Analogue Analysis?

It’s no secret that the landscape for market access and pricing professionals is ever-changing. Today the role of the function has evolved to be a critical link between R&D, medical and commercial functions. It’s providing the foundation for clarity in evidence expectations, willingness to pay and market needs, all while communicating and connecting pharma’s other functions.

Within this challenging environment, data-driven decision making is fundamental to overall business success. Enter, analogue analysis – the process of looking at past products’ performance to guide strategy and planning for current and future brands

An “analogue” is essentially a brand in a similar situation to your own. No brand is entirely the same as another, but it can have many of the same characteristics. Analysing these analogue brands can provide critical insight for our own brands, as they have already navigated through similar waters.

Why is analogue analysis beneficial?

When we predict the price and health technology assessment (HTA) outcomes of pharmaceutical brands, we base many of our assumptions on previously approved drugs – otherwise known as analogues. This competitor analysis in the pharmaceutical industry is essential for benchmarking price and informing product launch strategies.

In market access, we have time pressures to answer a range of complex questions. We need to know how to produce more accurate analyses and provide evidence to support a product launch strategy. From TPP profile definition through to price estimation, we need to speed up analysis to present the best business cases for early asset investment decision committees.

Important considerations for analogue analysis

When searching for analogues, we might look at defining characteristics such as:

  • Product and disease characteristics
  • Considerations for the launch environment
  • Broad or specific product launches.

We also need to ask ourselves some key questions. For example, what pricing opportunities are there in a highly genericised landscape? Does our product have an orphan indication? What does differentiation look like in a crowded marketplace? How can we support a trial design acceptable to payers if our comparator is off label?

TPP versus aspiration-led approaches

Analogues are selected using one of two approaches. One involves starting with what you have and using your existing TPP to identify analogues.  Another is more aspirational, defining outcomes you wish to achieve and identifying analogues that achieved those outcomes.

The TPP-led approach

In this approach, analogues are selected based on how well they match to the target product profile (TPP) for the brand. 

This approach works well when the TPP is available, however, it can be long and iterative, as many different TPP variations are introduced.  It is also difficult for market access teams to influence clinical programmes and medical strategies to shape the TPPs. 

Aspirational pricing and market access approach

This approach is based on a target price, and HTA outcomes that are expected to achieve the price. We need evidence to reach the desired HTA outcomes, which we can achieve by reverse engineering the TPP.

This makes it possible to guide research and development teams on trial designs and optimal products, but it may be far from reality. Whatever the findings, adequate risk analysis in the pharmaceutical industry is paramount, so whatever is identified must be robust.

Best practices for analogue analysis

Many teams face challenges, whichever approach is followed.  Analogue identification is frequently restricted by limitations on yours and your team’s knowledge.  Up to eight in ten analogues are selected based on team members’ personal knowledge, rather than being identified in a systematic manner.

At Access Infinity, we have developed Nuro to help you identify analogues, and get the best out of your analogue assessments. We generally advise this approach to get the best results:

Step 1: Define product or disease characteristics

This may include therapy areas, clinical benefits, molecule types, acute or chronic treatments, orphan drug indication, route of administration, and adult or child use.

Step 2: Define the launch environment

This may include size of target population, number of indicated products, availability of price benchmarks, competitor activity and off-label/on-label comparators.

Step 3: Apply criteria comprehensively and systematically

Bearing in mind that the above factors are not exhaustive, we need to take a comprehensive approach. This means starting with all EMA or FDA approved products. We need to be systematic when applying matchability of criteria. This will ensure repeatability, making for better business cases.

Step 4: Create the funnel

With these steps, we can then create our own funnels, for example, filtering out other therapy areas and focusing on auto-immune disorders. But we also need to be aware of the limitations, and draw on our own experience in addition to existing data. Generally, nine in ten analogues start with the disease, but we cannot simply create a funnel in any order.

The future

As pharmaceuticals become more expensive and competitive, we need faster, more reliable methods to benchmark pricing and assist product launches. Technology such as Nuro helps us to see all the essential data in one dashboard, which we can augment with our own experience.

No single method is the ‘correct’ one for getting a product to market effectively, as there are so many variables. What we can do is refine our strategies by looking at historical data and grouping by key characteristics. In future, this will help us satisfy HTA outcomes faster and create competitive price benchmarks.

Find out more about Nuro for analogue analysis here.

You can also hear our Founding Director Shri Rao Mukku talk more about analogue analysis in this webinar recording: https://accessinfinity.com/webinar/analogue-analysis-dos-and-donts/

Nuro demo request

See Nuro in action - book a demo

Attend a free, no obligation demo of Nuro to discover:   

  • How to answer your biggest market access questions 
  • How to speed-up analogue analysis 
  • Why the world’s most successful pharma companies are using Nuro  

“I found Nuro to be incredibly useful to find analogues and price benchmarks when I’m asked to do quick turnaround assessments. I haven’t come across any other solution that comes close.”

– Senior Director, Market Access 

About Access Infinity

Access Infinity is the world leader of digital transformation in the Pharma Industry. We are a trusted provider of digital platforms and consulting services to leading pharma companies

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