In the intricate landscape of pharmaceutical pricing, international reference pricing (IRP) stands as a pivotal factor influencing market access strategies. Justin Stindt Consultants, a renowned consulting agency, offers a comprehensive suite of services tailored to address the complexities of IRP. With a team of experts and specialists, our agency provides insights and strategies that are instrumental for Pharmaceutical, Biotech or MedTech companies aiming for optimal market entry. Whether you’re grappling with the challenges of launch sequencing or seeking to optimize price corridors, our international consultants bring a wealth of expertise to ensure your firm navigates the international pricing matrix effectively. Partner with us as your service provider and leverage our international acumen to achieve your desired pricing outcomes in the global marketplace.
International Reference Pricing / IRP Model / IRP Management
For many reasons, international reference pricing (IRP) is key for Pharma, MedTech or Biotech companies wishing to bring a product to market.
Among others:
- Many countries use international reference pricing as part of their healthcare reimbursement systems. Low prices in referenced countries may lead to a low international reference price and, therefore, introduce reimbursement barriers at sustainable prices and hinder market access to the drug
- Pharmaceutical companies operate in a global marketplace, where international price differentials may lead to spirals of downward pressures on prices and parallel trade
Insights from IRP are key to developing successful pricing and launch sequence strategies
Optimal IRP management to maximize profitability and prevent price erosion can be a difficult task without the necessary expertise and tools. At JSC, our experts have extensive and international experience working with IRP models and providing Pharmaceutical, Biotech or MedTech companies with recommendations and a roadmap on how to navigate the complex system to avoid complications while obtaining desired prices:
- International Reference Pricing Matrix hosting the IRP rules of more than 70 countries including all major markets
- Modelling of International Reference Pricing and optimization of price corridors
- Launch sequencing taking into account International Reference Pricing
- Development of many Pricing & Reimbursement strategies for new launches
- Analysis of international reference pricing effects and optimization, both retail and hospital only products
- Price Management for portfolios of in-market assets:
- Definition and review of floor price and price bands
- Management of austerity measures and price cuts
- Analysis of impact of price changes (both mandatory price cuts and proposed competitive moves) and decision making
- Arbitration of country disputes
At Justin Stindt Consultants, our expert consulting agency leverages deep insights into IRP to facilitate successful market access for new healthcare products
At JSC, our consultants are dedicated to assisting our clients with effective international reference pricing (IRP) strategies. To achieve this, it’s essential to convert global pricing data and industry knowledge into actionable strategies. Our profound expertise in IRP and global approach coupled with our adeptness in detailed market analysis, empowers our team of experts to deliver unparalleled strategic advice and pioneering solutions, ensuring seamless market access. Many pharma, biotech and medtech companies looking for a vendor have selected Justin Stindt Consultants as preferred service provider for IRP modelling and IRP management.
Get the support of our consulting agency to manage or develop an IRP Model or analyze IRP impacts for your medicines.
If you have any questions on international reference pricing and IRP models and wish to get supported by a serious and passionate partner, please contact one of our consultants.
WHAT SETS OUR AGENCY'S PHARMA AND MEDTECH PRICING & REIMBURSEMENT STRATEGIES APART?
Put simply, our consulting company helps our clients determine what clinical evidence they will need to get their products reimbursed at an attractive price.
Our international team of consultants conduct thorough primary & secondary research to assess the willingness to reimburse and pay of key decision-makers and identify value proposition levers to maximize return on investment. Our team of specialists and consultants have access to a large pool of key decision-makers and experts in various fields, including payers at national/regional/local level, Health technology assessment bodies (HTA), and clinical key opinion leaders for in-depth interviews and advisory boards.
We deliver specific and actionable insight on payer resonating evidence, including endpoints, how to operationalize them, and the required effect size. Our consulting agency also determines the return on investment of different evidence generation programs, e.g., the impact on access, price, and forecasting that an investment in an additional trial delivers.
Our holistic approach integrates in-depth understanding of healthcare systems, costs & reimbursement, health outcomes, strategic vision, and business sense to provide solutions truly creating value and access. We tailor every pricing & reimbursement project to the exact needs of our clients and stay in contact throughout the whole length of the project to make sure our team of experts and partners develop and co-develop the best possible strategy for the medicine or medical device.
We work with clients of all sizes, from start-ups to big pharma, and offer Pricing & Reimbursement Strategies at all stages of the lifecycle, e.g., pharma companies launching new products, biotechs looking for a directional P&R strategy in the scope of Business Development & Licensing discussions, or start-ups in need of an early P&R strategy to convince investors of the P&R potential of their assets. Our agency, with a team of experts and consultants, is dedicated to ensuring your product navigates through the complex market access landscape effectively.
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