REDWOOD SHORES, CA
LONDON, UK HYDERABAD, India (PRWEB) October 16, 2012 — Model N, Inc., the leader in Revenue Management solutions, has announced the general availability of its International Reference Pricing (IRP) solution to pharmaceutical manufacturers operating globally.
This application addresses one of the massive market challenges for the global Life Sciences market and delivers significant gross margin benefits.
To contain growing healthcare expenditures related to drug costs, a rising number of governments seek to control prices with international reference pricing programs. These programs officially set a drugs national or regional price based on price benchmarks in other countries. Failing to coordinate price setting at launch and subsequent price changes can result in missed opportunities amounting to tens of millions in revenue. In addition, more and more governments across the globe require that manufacturers proactively report reference prices. Failure to comply in an accurate and timely fashion often puts manufacturers in a weak negotiating position with governments.
Model N International Reference Pricing delivers significant business and operational benefits to pharmaceutical manufacturers by: