Market Access Strategy Development: Providing a Clear, Strategic Direction
Our client, a global pharmaceutical company, wanted to devise a global strategy to proactively address threats from the launch of biosimilars across various geographies. The client engaged Prescient to determine which of the four major stakeholders (payer, physician, pharmacist or patient) influenced the overall uptake of biosimilars across different market archetypes.
Shaping Decisions | Driving Value
Prescient began the engagement by synthesizing data and conducting desk research to provide a comprehensive review of different market archetypes and current behavior of various stakeholders in each archetype, and thus recommend how to adapt the value proposition for each market archetype.
We then identified competitor analogues and carefully analyzed their market access strategy to determine their success in a given market archetype, which led to classifying 25 different countries into broad market archetypes. Furthermore, in each market archetype, we ranked different stakeholders’ influence levels which provided more granularity. This in turn served as the foundation for our client to develop a global market access strategy to protect its asset’s leadership in the market place.
The Prescient Advantage
Using our research, the client was able to evaluate the risk-reward outcomes of different market access strategies and identify a robust pricing corridor based on the prevailing market access scenarios across various market archetypes.
Based on this engagement, the client made assumptions to pre-empt the impact of existing biosimilars and potential new biosimilars on its asset’s market share and to develop various defense strategies to optimize access across various market archetypes. The engagement also provided the foundation for developing country-specific or region-specific market access strategies.