We asked our moderator Mike Herepath to give us his feedback and take-aways on the 2 days of networking, sharing, learning and discussing in Montreux.
'It was a privilege and a pleasure for me to moderate this year’s EPP Life Science forum, and my sincere thanks to EPP and their partners, to our first class presenters and to all our engaged and enthusiastic participants for making this 6th forum such a great success. This year’s theme ‘Pricing under Pressure’ obviously resonated very strongly with all who attended, and stimulated lots of high quality discussion, debate and ideas sharing among the participants from both pharma and MedTech.
We began the forum by everyone making a note of what he or she wanted to take away from the event. As we reviewed these towards the end of the two days, it became clear that the vast majority of the participants’ learning needs and expectations for the event had been met and, in many cases, surpassed. Some of those key learning points included:
- The growing need for life sciences companies to be able to demonstrate and communicate the relevant value of their products as solutions to meeting payers’ needs, in order to negotiate optimal prices.
- The limitations of the revenue potential of ‘emerging markets’ and the difficulties of optimizing pricing with systems that are sometimes not transparent or consistent
- The appropriateness and potential usefulness of ‘innovative’ pricing strategies as alternatives to traditional approaches, and how best to price different types of innovation in pharma and MedTech
- The importance of well designed price guidelines and indices in effective payer negotiations
- The usefulness and the limitations of different types of analytics in effective pricing
- The evolving role of the strategic pricing function and how to meet both global and local needs with an effective tendering management system.
- The commercial importance of effectively managing pricing around loss of exclusivity
- The development and potential of neurophysiology and brain scanning techniques in determining optimal prices and willingness to pay.
At the end of the forum, and in subsequent emails and feedback, the majority of participants declared that the forum had met their needs and been a great success, with many adding that they were looking forward to coming again next year. I share their views, and can’t wait to join them!'