Article

Understanding market dynamics to enhance your product's success across regions

In today’s evolving pharmaceutical landscape, achieving effective market access across regions is crucial for the success of your products. During the ThinkLive Trade summit, Tommy Bramley, Senior Vice President, Global Consulting Services, shared valuable insights into Cencora's solutions and international expansion over the past fifteen years. He delved into the strategies for unlocking patient access, understanding cost-effectiveness models, and simplifying the complexities of market access.

What is the secret recipe for unlocking market access?

Unlocking market access is a complex challenge that requires a comprehensive approach. Bramley explains three essential factors for success: broad market access, stakeholder engagement, and high product differentiation. Cencora helps biopharma companies navigate the intricate landscape of market access by addressing five key areas:

Determining funding path or benefit coverage
Evaluating clinical and economic value
Determining reimbursement rate
Negotiating price and contract
Managing utilization

When considering market access, Bramley advises biopharma companies to ask themselves these questions:

Why do patients need this?
What am I currently paying for treatment of this disease?
How is your drug better than the alternatives in my specific setting?
How much is your drug and why is it worth the cost?
Can I afford it and what part of my budget will I use to fund it?
What are the consequences of not funding?
Which patients should get it and how can use be limited to appropriate patients?

How does a cost-effectiveness model in the UK influence healthcare decisions?

Bramley uses the current cost-effective model in the United Kingdom to explain the pivotal role it plays in healthcare decisions, focusing on delivering value for money. Quality Adjusted Life Years (QALYs) measure the cost per year of life gained in perfect health. With a threshold of GBP 20,000 to GBP 30,000 per QALY, the NHS evaluates treatments based on their ability to improve quality of life.

This model, while complex, provides a framework for assessing the economic value of therapies and guides pricing strategies. For example, when evaluating a treatment for chronic migraine, the UK considers the cost savings from reduced hospital stays and the improvement in patients' quality of life. This comprehensive assessment helps determine whether the treatment provides good value for the investment.

Another launch factor you need to consider across all markets is price referencing strategy. As Bramley explains in the clip above, we’re well-equipped to help with implantation across geographies and Cencora’s consultants can help you determine the best sequence of countries in which to launch your product and how to be disciplined in pricing decisions.

What is the value of local support with global expertise?

Cencora integrates global market access with local expertise. Our unique combination of services, such as regulatory support, pharmacovigilance, market access, and distribution, allows us to stand out against the competition. Our holistic approach ensures that innovative therapies reach patients efficiently and effectively.

Key differentiators:

Local presence and knowledge across major geographies
Comprehensive regulatory and market access support
Seamless integration of consulting and distribution services

By answering critical questions about safety, efficacy, and value for money, Cencora accelerates market entry and optimizes health outcomes. Navigating the complexities of market access requires a deep understanding of local dynamics, cost-effectiveness models, and strategic stakeholder engagement. Bramley's insights at ThinkLive Trade provide a roadmap for achieving successful product launches across the globe.