Copenhagen – October 2024
PRICIA and Global Pricing Innovations (GPI) are thrilled to announce a strategic alliance aimed at offering clients a comprehensive, integrated global revenue management system. This system will be supported by real-time market data that enables drug developers to optimise their pricing governance models and set optimal prices across various markets and stages of the product lifecycle. This collaboration combines PRICIA’s deep expertise in lifecycle pricing management, market access, commercialisation of pricing models, and the launch of biopharmaceuticals, with GPI’s renowned capabilities in integrating market data. GPI delivers key market intelligence by providing longitudinal pricing data, competitors’ pricing strategies, International Reference Pricing (IRP), Health Technology Assessment (HTA) insights, and asset data, all crucial for informed pricing decisions.

Comprehensive Benefits to Clients
The collaboration between PRICIA and GPI provides clients with an unparalleled global revenue management and pricing governance system. This integrated solution assists pharmaceutical companies in navigating the complexities of customer price management by offering informed pricing tools and insights into competitors’ pricing strategies. These capabilities, underpinned by automated pricing technologies, enable companies to stay ahead of market trends and adjust pricing models to maintain competitiveness and profitability.

Key Features and Offerings of the Integrated Solution
This strategic alliance delivers a wide array of key features that provide measurable value to clients, enabling them to set optimal prices and capture more market share. Some of these key features include:

• Global Price Database: The global price database is vital to this solution. It enables clients to manage prices and pricing governance processes via a sophisticated, enterprise-grade platform. Acting as a central repository, the database stores all pricing data and price levels, providing clients with clean, accurate data that is easily accessible. This tool is invaluable in preventing price erosion, helping clients to maintain optimal prices, and ultimately increasing profitability. The platform also allows companies to easily adjust pricing to align with market trends and remain competitive.
• Business Case Scenarios: With the business case scenario tools, clients can simulate the impacts of competitors’ pricing strategies, reference pricing changes, and governance workflows. These tools help companies standardise pricing processes and improve decision-making while mitigating risk. By modelling different pricing models, companies better understand the potential outcomes of various pricing strategies and their impacts on profitability, leading to informed pricing decisions that align with business objectives.
• Workflow and Governance Automation: The platform automates pricing workflows and governance processes, simplifying the complexities of making price changes. This feature reduces administrative workload while ensuring rigorous governance standards are maintained. Workflow automation ensures that users, whether they are single approvers, part of an approval group, or simply receiving information, can quickly respond to price changes in real-time. This enhances transparency and speeds up the decision-making process for pricing adjustments.
• International Reference Pricing (IRP): The solution also includes a user-friendly IRP tool that enhances internal price transparency, forecasts list price changes, and supports scenario planning for different markets. By integrating this data with competitors’ pricing information, companies can better understand the financial impacts of pricing adjustments and develop informed pricing strategies to navigate complex international markets. The IRP tool is essential for businesses operating in multiple countries, as it enables them to prevent price erosion by anticipating changes in reference prices and planning accordingly.
• Optimised Launch Strategies: Companies can use the platform to manage complex launch price calculations when launching new products. The platform allows for consolidating launch-related assumptions and constraints, producing financial and pricing outputs such as detailed launch date reports, time-to-market analyses, launch scenario comparison grids, and optimal price predictions. These tools support companies in developing informed pricing strategies that maximise market share and profitability in the crucial launch phase of a new biopharmaceutical product.
• Competitor Price Management: Understanding competitors’ pricing strategies is critical to remaining competitive in the pharmaceutical industry. This feature allows clients to analyse the pricing approaches of their competitors across different markets. The system helps improve market positioning, enhances customer price negotiations, and maximises profitability. By integrating predictive pricing tools, companies can anticipate pricing shifts at key moments, such as product launches or the loss of exclusivity, allowing them to adjust their pricing models for strategic advantage. This approach supports more effective informed pricing and ensures clients stay competitive in the global marketplace.
• Tender Management Automation: The tender management feature automates the internal processes of issuing, receiving, and evaluating bids or proposals. A central platform manages all tender-related activities, including customer data, bid submissions, evaluation criteria, and approval workflows. By automating these processes, companies can reduce administrative burden and focus on making more strategic decisions during the tender process, ultimately improving tender outcomes and gaining a stronger foothold in competitive bidding environments.

Comments from the CEOs
“We’re excited about this collaboration, which perfectly complements our Atlas360 pricing software. The partnership with GPI enables us to offer a complete pricing ecosystem to our clients through full integration of the rich GPI datasets and insights,” said Paw Trebbien, CEO and Founder of PRICIA. He added, “We see our collaboration as a natural fit that will enhance our comprehensive solutions for clients and ultimately help bring novel treatments to patients sooner by enabling optimal pricing decisions.”

Wayne Speechly, CEO of GPI, shared similar enthusiasm for the partnership. “Our mission is to provide clients with the tools and insights needed to thrive in a competitive market. Through our alliance, we offer a cutting-edge solution that integrates comprehensive pricing data, advanced analytics, and the expertise of seasoned professionals. By managing prices, optimising launch strategies, and streamlining workflows, we help clients mitigate risks, improve decision-making, and maximise profitability. This partnership represents our commitment to delivering value, enhancing transparency, and driving long-term success for our clients. We’re excited to work with the PRICIA team!”

Driving Innovation and Market Share
The alliance between PRICIA and GPI is strategically positioned to drive innovation within the pharmaceutical industry by supporting drug developers in launching new products and optimising their pricing strategies. The integrated solution helps companies make informed pricing decisions, enabling them to react to market trends quickly and effectively, ultimately driving greater market share. By leveraging real-time data, predictive analytics, and optimised workflows, clients can stay ahead of market trends and competitors, ensuring they remain competitive while delivering value to patients and stakeholders.

About PRICIA
PRICIA is a leading pricing and market access solutions provider for the life sciences industry. The company delivers advanced services to pricing and market access departments, developing cutting-edge technical solutions that leverage the latest technologies. Drawing on years of industry experience, PRICIA’s platform is designed to offer the best possible user experience, enabling pricing and market access specialists to make fact-based decisions that enhance profitability and ensure compliance with complex regulations. With a focus on delivering optimal pricing strategies, PRICIA helps clients respond to market trends and competitor activities.

For more information about PRICIA, visit: https://pricia.dk/

About Global Pricing Innovations (GPI)
Global Pricing Innovations (GPI) provides pricing and market access insights through data-driven solutions. The company empowers pharmaceutical organisations to make informed pricing decisions by offering fast, agile, evidence-based alternatives to traditional pricing strategies. With an in-house pricing and market access expert team, GPI supports clients with services such as competitive landscape analysis, competitors’ pricing insights, market access strategy development, value-based price forecasting, and payer behaviour insights. By offering automated pricing tools and customer price management solutions, GPI enables clients to stay ahead of market trends and capture market share.

For more information about GPI, visit: https://globalpricing.com/