Decision Resources, Inc., announces the publication of Leveraging Pharmacoeconomics in Pharmaceutical Marketing. In this unique study, we offer the pharmaceutical industry a comprehensive investigation that guides pharmacoeconomic program efforts and suggests alternative strategies for using pharmacoeconomics to persuade managed care organizations (MCOs) to add drugs to their formularies and to pay more for certain product advantages.
In collecting data for the study, we surveyed a variety of stakeholders involved in pharmaceutical decision-making, including pharmacoeconomists and pharmaceutical sales managers, formulary officials in MCOs, physicians, patients, employers, and an FDA representative. Our survey methods included telephone interviews, mailed questionnaires, and conjoint exercises focusing on rheumatoid arthritis and migraine pharmaceuticals. Our emphasis is on U.S. pharmacoeconomic interests, which focuses on the managed care market.
Based on the results of our survey, we recommend an indirect approach to using pharmacoeconomics in managed care marketing. In this approach, companies would use pharmacoeconomic evidence (including evidence supporting quality-of- life benefits) more deliberately with physicians, consumers, and employers- thereby influencing those parties to demand that particular products be made available or that their status be upgraded by their MCO. We also recommend the repositioning of pharmacoeconomics studies and departments within pharmaceutical companies. Going forward, we believe that our recommendations will lead to a greater valuing and use of pharmacoeconomic evidence on the part of MCOs.
Many opportunities exist for pharmaceutical companies to use their pharmacoeconomic data indirectly, but as with any novel approach, challenges await. Our study recommends several key steps to promote these efforts and addresses the following key questions:
* How should a manufacturer develop a pharmacoeconomics-based marketing strategy? What are the important issues to consider? * What is an appropriate goal for pharmacoeconomics-based marketing? What is the best way to leverage pharmacoeconomics? * What is the future of pharmacoeconomics-based marketing?
Leveraging Pharmacoeconomics in Pharmaceutical Marketing is part of Mosaic, one of six Pharmacor services.
Decision Resources, Inc., is a world leader in pharmaceutical research publications, advisory services, and consulting designed to help clients shape strategy, allocate resources, and master their chosen markets. Founded as a subsidiary of Arthur D. Little, Inc., the company has provided strategic information services for 30 years.
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SOURCE: Decision Resources, Inc.
Contact: Frank Sama of Decision Resources, 781-296-2553, or