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EPP News, Life Sciences, Partners, Press releases

Model N launches International Reference Pricing Solution for Global Life Sciences Manufacturers

Solution
Combats Price Erosion Stemming from National and Regional Price Control
Programs


Redwood Shores, USA – London, UK – Hyderabad, India
— October 11, 2012


Model N, Inc., the leader in Revenue Management
solutions, has announced the general availability of its International
Reference Pricing (IRP) solution to pharmaceutical manufacturers operating
globally.


Model N and the European Pricing Platform (EPP) are close partners since 2009,
co-organizing the annual Price and Profit Optimization Forum and providing the
Life Sciences industry with thought leadership in the areas of Commercial
Strategies, Reference Price Management, Parallel Trade Management, Tender
Management, Price Execution and Incentive Management. “The Model N
International Reference Pricing platform was first presented at the 2012 Price
and Profit Optimization Forum last May in Montreux, Switzerland”, said Pol
Vanaerde, President of EPP, “and its launch marks an important step in the
Model N – EPP partnership”.


Model N IRP addresses one of the massive Life
Sciences global market challenges

To contain growing healthcare expenditures related
to drug costs, a rising number of governments seek to control prices with
international reference pricing programs. These programs officially set a
drug¡¦s national or regional price based on price benchmarks in other
countries. Failing to coordinate price setting at launch and subsequent price
changes can result in missed opportunities amounting to tens of millions in
revenues. In addition, more and more governments across the globe require that
manufacturers proactively report reference prices. Failure to comply in an
accurate and timely fashion often puts manufacturers in a weak negotiating
position with governments.

Model N International Reference Pricing delivers significant business and
operational benefits to pharmaceutical manufacturers by:
  • Supporting data-driven Pricing decisions from
    pre-launch to launch to growth to maturity, by providing Global and Local
    teams with full visibility into risks and opportunities associated with
    future price dynamics
  • Helping Government Affairs teams remain
    compliant in mandatory governmental price reporting while ensuring
    Ministries of Health are correctly applying reference rules
  • Connecting Market Access, Pricing and
    Government Affairs teams around the world in real time enabling efficient
    collaboration and effective decision-making
  • Increasing pricing data transparency across
    the entire organization, enabling more accurate financial planning
     


Model N IRP has already proven to deliver
significant gross margin benefits


“Top Pharmaceutical executives are clear that
the new economic reality requires rapid decision-making with integrated
collaboration and controls across regions to deal effectively with the needs of
International Reference Pricing compliance. Departmental and Excel based
solutions will not work. The solution has to be global, unified, real-time and
highly collaborative.” said Lawrence Whittle SVP Global Sales and
Marketing, Model N Inc. “Over the past year, we have worked closely with
our pharmaceutical partners to create a robust IRP solution that meets or
exceeds these requirements and look forward to helping industry leaders
overcome their reference pricing challenges and combat global price erosion.”


About Model N International Reference Pricing

Model N International Reference Pricing helps
global manufacturers mitigate reference pricing risk and profitability erosion
through a powerful combination of data management, software applications, and
best practices.
Capabilities include:
  • Single Global Repository
  • Global Price Governance and
    Collaboration
  • End-to-end with data integration,
    configurations, workflows, analytics, reporting
  • Designed for rapid deployment and time to
    value of under three months
  • Web Based user interface designed for
    functional users
  • Subscription-based solution eliminates the
    need for complex capital acquisition processes or budgets
     


Supporting Link

 

Pricing Social Media Links 

Follow
Model N on LinkedIn
 European
Life Sciences Price and Profit Optimization Forum 


About Model N 

Model N, the leader in Revenue Management
Solutions, drives improved pricing, margin, and revenue performance through a
powerful combination of best practices, highly configurable software
applications, comprehensive services, and actionable analytics across the
complete functional spectrum of pricing, contracting, rebating, sales, and
marketing. Model N leverages its deep industry expertise to support the unique
business needs of Life Sciences and High Tech manufacturers across more than 50
countries. Global Customers include: Allergan, Amgen, Atmel, Boston Scientific,
Bristol-Myers Squibb, Dell, Hospira, Johnson & Johnson, Linear
Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON
Semiconductor, STMicroelectronics, and Watson Pharmaceuticals. Whether you are
an emerging business or a global leader, Model N results in revenue.

Model N is a trademark of Model N, Inc. Any other company names mentioned
are the property of their respective owners and are mentioned for
identification purposes only.


About the European Pricing Platform

European Pricing Platform (EPP) is a not-for-profit
organization and has become the leading knowledge sharing place focusing to
support business management, pricing and profit optimization professionals and
CxO-level executives in Europe over a variety of industries and sectors. The
EPP mission is to be the on- and offline pricing media for international
decision makers in a wide range of industries. The interactive collecting,
sharing of best practices and development of pricing and profit optimization
know-how are the key elements of the platform. EPP is dedicated to the
professional development of the individuals and companies involved in the
process of pricing and profit optimization. To learn more, visit the website at 
http://www.pricingplatform.eu
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