The Three Essentials for Opportunity Assessment
By Musa Kureshy, MSc, Business Development Manager, Global Pricing Innovations
Opportunity Assessments are a vital step for in-licensing new pipeline products or making go/no-go decisions around the clinical development of early-stage assets. To be able to achieve a reliable opportunity assessment it requires three essential parts which lead to the final output.
The correct Analogue Basket
Having a thought-through analogue basket is probably the most essential step in achieving a reliable and reproducible opportunity assessment. To be able to achieve an accurate analogue basket the key parameters which need to be selected are Indications, Mechanism of Action, Markets, Target Population. These parameters can be expanded further by looking at Line of Therapy, Orphan Status, Prevalence and other disease-specific characteristics on a case-by-case basis.
Granular Pricing Data
Having access to a source of reliable and granular pricing data, like GPI pulse™ (cheeky plug), provides the key information required to understand the commercial potential of the asset that you’re assessing. Through pricing data, you are able to perform analysis on the analogue basket to derive market specific insights, trends and price corridors alongside the monthly cost of treatment potential for a specific indication.
Global Access & Reimbursement Data
Along with having access to an accurate and granular source of pricing data, having the additional power of access and reimbursement data, also through GPI pulse™ can provide further insights into the target markets such as key decision drivers for a specific scenario, average time to reimbursement and market access potential.
Perform Opportunity Assessments in…Minutes!
Typically, opportunity assessments are very much a consulting-driven project taking several weeks to complete. Usually, when opportunity assessments are required by an individual, they require extremely short timelines to make a decision within.
What if we told you that you don’t have to wait weeks to get your opportunity assessment, let alone, engage with a consulting firm to complete the work?
What if we told you that the technology required to perform opportunity assessments within minutes without the requirement of external support is available here and now?
Arrange a time with our team below to learn more about the future of opportunity assessments in BioPharma