Unlocking the Complexity of International Reference Pricing
By: Yulia Privolnev and Roy Moore
Published: May 2016
In seeking to maximize revenue in a given market, pharmaceutical manufacturers must come armed with clinical data, cost metrics, an understanding of the pressure points of payers, and the patience for back and forth negotiation—all in order to build a compelling value message.
What is IRP?
The practice of using the price(s) of a medicine in one or several countries in order to derive a benchmark or reference price for the purposes of setting or negotiating the price of the product in a given country.
Source: WHO Collaborating Centre for Pricing and Reimbursement Policies