Market Analysis of Brand Products
Industry
Pharmaceutical Manufacturer
Problem
A pharmaceutical manufacturer whose product ranked second in a crowded therapeutic class wanted to increase market share by working with both third party payers and retail pharmacies. The client wanted an unbiased market strategy that aligned incentives and wanted to engage consultants with a background in both retail pharmacy and third party payers.
PHSL Solutions
PHSI examined the competitors’ products including pricing, existing market share, package size, and brand classification to formulate a clear strategy. PBMs and health plans were surveyed to determine payer needs in this therapeutic class and the importance of this class within their formularies.
Results
The surveys indicated that a change to package quantity would better position the product with payer days supply edits, and the client was able to achieve the goal of increased product sales and market share.