Monday 16 - Friday 20 September, 2013
An executive short course provided in collaboration between the Institute of Biotechnology and PriceSpective.
Introduction
The aim of this course is to provide pharma executives with a detailed understanding of and a practical introduction to the complex discipline of pricing and market access strategy. The course will demonstrate how an informed and strategic approach can help not only to capture a higher proportion of the value of a biopharmaceutical product but also to increase the overall intrinsic value of a novel drug.
Pharmaceutical pricing strategy is more than simply setting the price of a product in order to recover R&D investments and guarantee a desired profit level. Developing, communicating and finally capturing the value of a new drug are critical to success in a business environment that today is much more challenging for all companies than at any time in the previous three decades. Even as pharmaceutical companies' options within their pipelines are diminishing, development costs are larger than ever, blockbusters are being displaced by niche drugs targeting extremely small patient populations and Western governments are limiting expenditure on healthcare.
As a result of the significant difficulties associate with obtaining access to the market the focus of most pharmaceutical companies has shifted from sales and marketing to the relatively new discipline of strategic pricing and market access. In this new environment, clinicians remain important decision- makers however they move within the boundaries imposed by payers, who have become the ultimate and most influential clients of the pharmaceutical industry. Understanding the prevailing and complex environment is key for effective pharmaceutical product management.
What will be taught?
Participants in this programme will:
- Understand the foundations of value based pricing
- Learn how pricing strategy integrates with the overall product strategy in creating and capturing the value of an innovation
- Appreciate how health economics and outcomes research can support and complement the deployment of a pricing strategy
- Build a toolkit to develop and sustain the value of a product
- Learn specific techniques to communicate the value of a new product
- Formulate best practice in the field of biopharmaceutical pricing
Please email lma31@cam.ac.uk for more information on taught components.
Who should attend?
- Pharmaceutical industry professionals
- Executives involved in drug development
- Senior management, particularly board members
- Individuals undergoing role transition from a scientific position to the commercial side of the pharmaceutical business
- Commercial executives requiring an in-depth understanding of pricing and market access
- Academics involved in drug discovery and development