Determining the appropriate price for new treatments can be challenging, especially for innovative therapies which elevate the standard of patient care.
An EU-based biotechnology company with a novel drug in development approached Medicus with a question: how should we price a game-changing therapy in a disease area that has not experienced significant innovation in over two decades?
Our market research included
Conducted quantitative analyses and in-depth interviews with infectious disease physicians to understand current treatment patterns
Analyzed real-world data across multiple insurance claims databases to quantify the economic burden of disease for patients, hospitals, and payers
Reviewed pricing and market access strategies for comparable treatments in similar disease areas
Conducted in-depth interviews with payers and hospitals to better understand price expectations and insurance coverage mix across patients
Armed with a clear picture of the patient journey, treatment landscape, and pricing / access expectations, our client determined an optimal US treatment price for its therapy.
To inform our client’s strategic pricing decision, we conducted several quantitative and qualitative market research initiatives.
By taking several market research approaches, we enabled our client to optimize their US pricing strategy for a game-changing therapy.
Outputs from our research also generated robust evidence that supported our clients efforts to clearly communicate their product’s value to payers, providers, and patients.