RESEARCH TRIANGLE PARK, NC--(Marketwire - November 13, 2008) - During President Elect Obama's
campaign there were many cries for change and none as loud as the cry for
healthcare reform. Both candidates voiced their plans for change and the
pharmaceutical industry must now focus on what an Obama presidency really
means for their bottom line.
Increasing the use of generic drugs for Medicare and Medicaid and allowing
the importation of safe prescription drugs from other developed countries
were two platforms on which the Obama health plan stood. A more costly
proposition for pharma could be lifting the ban that currently prevents the
federal government from negotiating with drug companies to get lower prices
on drugs for the Medicare program. Obama's campaign estimated that this
could cut government healthcare costs by $30 billion; money coming directly
out of drug company's pockets.
Pharmaceutical pricing teams are sure to face increased scrutiny from
government payers armed with the new ability to negotiate. To combat this
change, pharmaceutical companies must begin their health outcomes analysis
as early as possible. A new study from Cutting Edge Information, a leading
Pharmaceutical business intelligence firm, reveals that 56% of companies
begin pricing-focused market research before phase III. This can be far
too late to shape a quality health outcomes study, which many 3rd-party and
government payers are requiring. The new report, "Outcomes-Based
Pharmaceutical Pricing: Meeting Stakeholder Needs," discusses the most
effective ways to shape pricing analysis to ensure a successful trip to the
bargaining table.
The 124-page report provides an in-depth analysis of pharmaceutical pricing
planning, processes, decision making and resources. Based on these
findings and surveyed companies' best practices, CEI analysts offer action
points to guide companies to set the right prices and optimize their
profits. (
http://www.pharmapricingstrategy.com).
The report contains 400+ metrics, while data focuses on pricing teams'
structures, phase-by-phase pricing processes and methodology, and spending
and staffing resources. Metrics include the following:
-- Resource support, innovative versus me-too drugs
-- Cross-functional involvement in pricing decisions
-- Share of companies with dedicated pricing departments
-- Lifecycle entry and exit points for functions involved in the pricing
process
-- 2008 pricing budgets and headcounts, by company size
-- 2008 headcounts broken down by geographic market and by company size
Contact Information: CONTACT INFORMATION:
Elio Evangelista
919-433-0214