As discussed in a previous post, a tendering dedicated resource is a must and it represents the first step in building a successful tendering organization. But plenty of questions will remain unanswered, even before you tackle the governance of your tendering business. However, a tendering organization will begin to be defined through the creation of a dedicated resource, as well as by...Read More
Special thanks to co-author Joe Cabe, Manager, Pricing, Contracting & Market Access.
It’s common to lump the medical device and pharmaceutical industries together. Both are essential to the healthcare industry and have similar business models. However, when we examine each, we uncover vast differences between the two markets.Read More
In the life sciences industry, there are no clear best practices or standard frameworks on how to establish a measurement plan for an end-to-end CRM implementation. A CRM roadmap strategy is challenging and the specificities of pharmaceuticals, with R&D being such an important piece of the business model, make it even more difficult.Read More
Are your practices for handling TMFs compliant with the new GCP requirements from ICH E6 (R2) coming into effect June 14?
Background for ICH E6 (R2)
The ICH GCP E6 regulation was introduced in 1996 when clinical trials were largely run on paper. Since then, the following trends have significantly increased:• the scale, complexity, and cost of clinical trials • the degree of outsourcing for... Read More
Companies contemplating moving their unstructured data to the cloud are often concerned with the security of the platform and the cloud provider: managing cyber-risk to protect digital assets. Contrary to those concerns, the evidence shows the data centers and security processes of cloud providers are, in fact, far more hardened than any corporate data center. Greatly eliminating this security...Read More
Market Access is becoming more and more challenging. This is irrespective of drug classes and new technologies. Payers are applying the same scrutiny on orphan drugs as on drugs for primary care. This is driven by increased budget constraints in healthcare systems and the heterogeneity of reimbursement systems worldwide.Read More
Special thanks to co-writer Heenal Patel, Manager Pricing & Contracting.
In United States' managed care contract administration, price protection is a strategy frequently used on executed contracts.
In simple terms, price protection calculates a ceiling price, safeguarding a price point as price increases occur. As drug prices rise, a rebate is issued for anything above the maximum price...Read More
Are “traditional” product launch strategies falling short of delivering desired results as it relates to your specialty drugs? Are product launch strategies including the full spectrum of “market conditions” that could impact the successful positioning of products at global and local levels? What are those “market conditions” impacting product launch? Should they be analyzed and incorporated...Read More
In previous installments, we tackled two challenges to success with eDetailing in the life sciences. The first challenge is getting teams in the field to adopt the new tools and adapt their interactions with customers. The second challenge is how to generate content that is engaging to customers and sales reps alike. However, just overcoming these challenges do not guarantee success....Read More
Are you or your colleagues facing never-ending issues when being audited or inspected? It might be time to start putting your (clinical) house in order.Read More
Market access functions in life sciences are always evolving. Disrupted by the increasing share of Biosimilars, companies are reorganizing themselves. In this environment, market access departments are absolutely required and given increased responsibilities — all driven by external and internal factors.Read More
Innovation and competition are constantly influencing commercial drug decisions worldwide in the life sciences industry. This is evident by years of record drug approvals by the FDA and EMA, followed by a sharp decline in new therapies in 2016. Additional factors affecting commercial decisions include the advent of Biosimilars, the passage of the U.S. Affordable Care Act and recent proposed...Read More
Special thanks to co-writer Neelabh Saxena, Associate Director Pricing, Contracting, and Market Access.Read More
Nowadays, it’s a well-known fact that tender management is essential across most markets. Thus, as part of your tender management strategy, you must setup a network of tender champions or a global tender network. However to address the specifics of tendering across various markets and diverse portfolios, a tender management organization needs to be built.
Within any life science organization,...Read More
Tenders set the stage in the new procurement landscape
The importance of tenders is rising. Tendering has become a new, standard method of entry into the procurement game in most European countries, and even across Asia, Middle East and Latin America. This competitive form of procurement procedure by national, regional or local tender authority is often heavily regulated by law.
The most...Read More
The goal of a public company and the fiduciary responsibility of company executives is to maximize shareholder value. In simple terms, maximize profit, which drives long-term shareholder value. Pharmaceutical companies are no exceptions.
However, when commercial strategy is scrutinized, an interesting trend emerges. Let us assume that an executive goal is to maximize profit over the life of...Read More
One of the major work streams of a contract management repository initial implementation involves the processing of your existing contracts. These existing contracts will often be referred to as your backfile, or legacy contracts. How you decide to handle them will have a considerable bearing on both the duration and cost of your implementation.
Why is backfile important? Many experts feel...Read More
Biosimilars are on the agenda of several players in the pharmaceutical industry. Several companies’ new leg of growth seems to be the creation of a biosimilar franchise. The question is “How real are the opportunities in an ever growing competitive environment?"
In the next 5 years, Biosimilars could hit the market to compete with some key biologics cumulating sales of more than EUR40 billion....Read More
Most project managers in the life sciences industry know that for a CRM implementation to be a true success, management buy-in and training must be top priorities. This is especially true for global CRM implementations where standardization of processes is even more important than the technology itself. However, without wide user adoption, the project is set for failure.
And to a fault in most...Read More
With more than 30% of the pharmaceutical market now utilizing, a significant portion of the Life Sciences industry’s revenue is being subjected to tendering. It’s hard to think of a more imperative way to see, the time is now to adapt and master tendering. The tendering process can be divided into 5 essential phases: Awareness, Evaluation, Response, Fulfillment, and Tracking. All phases are...Read More
To successfully compete in the tender and contracting (T&C) market, Life Sciences companies require a strong and robust tender organization with a global-to-local tender strategy. This “Think Global, Act Local” strategy can be achieved by implementing a Global Tender Network with country Tender Champions where the whole organization partners with multiple, cross functional, corporate groups to...Read More
Tender management is becoming increasingly important these days. Twenty five percent (25%) of the pharmaceutical market is now considered to be traded through some form of tender, and this percentage is expected to grow even further. The prevalence of tendering is nowadays expanding from generic to specialized drugs, forcing even specialized manufacturers to become participants in tender.Read More
This October, HighPoint Solutions will be collaborating with Model N, Salesforce and Deloitte to bring you the first ever Commercial and Pricing Innovation Forum in Barcelona, Spain. With Model N’s proven success in hosting innovative conferences and events related to Revenue Management and Pricing, this forum is shaping up to be an equally exciting event with speakers from the pharmaceutical and...Read More