When it comes to making pharmaceutical forecasts and market access analysis, data quality can make or break the process. Launching a new product in multiple markets beyond your own requires a fantastic amount of research.
Drug pricing information in the area you are about to conquer is the key to setting up the right price for your product. Figuring out the optimal price strategy and setting a competitive price corridor for your products can help you increase profits and complete the successful pharmaceutical product integration across various markets in other countries.
At Black Swan Analysis we have come up with an extensive database to help you understand the vast pricing environment when you try to enter new European markets. We created the Rx Price Index™ to unify European and neighbouring countries prescription only medicine (POM) drug prices in one place. The amount of medicine pricing information we’ve collected (over 3.8 Million Records) in this index is sufficient to give you an excellent overview and understanding about the pharmaceutical landscape of the countries you are about to launch your product in. You will be able to establish price benchmarks by evaluating your pricing strategy against competitors’ product prices and the standard of care for your therapeutic area.
We believe that the Rx Price Index™ is the best unified commercial database available in the industry today. Here is why:
Extensive Market Coverage And Continuous Country Expansion
The RX Price Index™ is a continuously expanding pricing database. It currently covers 22 European and neighbouring countries with plans to add new countries on an ongoing basis.
Although many European countries have a medical database, which includes a list of prescription products, they usually present their data in the local language, and with their chosen price type (usually retail) presented in their own currency. Our RX Price Index™ brings the information together in one large database, where the data is translated to English and it is standardised, it shows price types ranging from Ex-Factory to Retail and are all presented in the same currency.
This is a big find for companies who are seeking to launch their products in several countries
The database is created for users, who are pressed for time yet eager for information. The interface design allows you to quickly browse the pricing data and export it to your computer for further analysis. Once you have access to the database, you can start working with it immediately.
The database is designed with your busy schedule in mind. That’s why the products can be browsed by Brand/Generic Name, Active Substance and License Holder. All the data is standardised and translated to English to help you start a smooth analysis.
Monthly Updates And Historic Data
We know all too well about the ever-changing nature of the pharmaceutical industry. That’s why we keep our database updated monthly.
However, should you be interested in understanding how a drug was priced at launch and how its price fluctuated along its lifetime you will be able to search pricing information data as far back as June 2015. Having access to such an extensive set of data could offer insights on the dynamics of drug pricing fluctuations nearing their patent expiration.
Once you get access to the Rx Price Index, you will be able to search 22 countries for over 31 months of historic data and always be on top of the most recent price development thanks to the monthly updates.
Depending on how much information you will need, you can opt for two solutions:
|Custom Report||We will create a custom report based on products, historical pricing data and countries requested|
|Enterprise User||Unlimited number of searches & downloads per year|
Black Swan Analysis has been working in the pharmaceutical industry for over a decade. All this time we’ve been analysing different areas of the industry. We know the importance of a reliable data source for coming up with a good forecast.
Initially, we created the Rx Price Index™ for our own needs. Over time, it has become the perfect unified source where to find the latest prescription drug prices in Europe. That’s why the time has come to share it. Get in touch through our contact form to find out more.