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Strategic Pricing: Optimizing product valuation by avoiding bias and thinking locally
Price is one of the three key variables in the profit function, a critical negotiation point prior to patient access, and a component of the industry’s image issue. Companies can overestimate price due to internal biases, use of inappropriate analogues, avoidance of in-country details and the focus on regulatory endpoints at the expense of payer-relevant endpoints. Indeed, fast to label is not necessarily fast to patient access. Given the dominant role price plays in enterprise valuation, the panel today will discuss the key pricing issues, including optimism bias, ways to mitigate these risks and why payer research isn’t always the best answer. Participants will leave with a better understanding of how to optimize pricing and access estimates and improve the quality of engagement with investors, stakeholders and partners as a result.