Market Access Pricing

When we set aside all the complexities involved in the drug development lifecycle and simply articulate the final goal, it is this: delivering effective treatments to patients in a timely manner. Patient access depends on marketing authorization and payer acceptance. Payer acceptance depends on scientific evidence that your compound addresses unmet needs and delivers differentiated value to patients. Regardless of indication or therapeutic area, irrespective of price or economics, the question of unmet need is at the heart of payer decision-making.

While developing supporting evidence is integral to achieving that goal, and ultimately, to commercial success, presenting the value case to payers happens near the end of the drug development lifecycle. The question often arises: Where is the right place to start?

The answer is to incorporate a pricing and market access strategy from the outset. When you begin the journey by focusing on unmet needs and ensuring that everyone on your team understands what problem you are trying to solve, that insight drives the process. Clinical trials are designed accordingly, and evidence generation is addressed with the end in mind. This process leads naturally to your value story.

Where can Parexel help in this journey? Everywhere.

Parexel offers cohesive alignment throughout development to support the global launch of reimbursable, appropriately priced, affordable medicines with our market access pricing. We can support you in determining:

• What is the expected licensed indication?
• What alternative treatments are available, in which setting of care?
• What do payers and KOLs view as the unmet need? What improvement in effect would they consider a patient benefit?
• What evidence will payers require to support decision-making?
• Who are the critical stakeholders making decisions on price and access? What is the preferred price comparator?

It is never too early to consider access and reimbursement. Weaving commercial insights into the clinical and regulatory phases helps increase product valuation for investment, as well as prepare for a payer reimbursement  strategy to support market access and return on investment. Parexel offers top-notch expertise in health economics and outcomes research (HEOR) to help you determine the right strategy and build the evidence package.