Does this sound familiar?
“With trial delays because of the pandemic …
… now our competitor will launch 18 months ahead of us!”
… generics will launch in the market before we do!”
… we’re launching months before our competitors!”
If your recent virtual hallway conversations are variations on these themes, your company is experiencing a change in competitive dynamics. These changes can increase pressure on some companies while seemingly easing pressure on others—when, in fact, changes in either direction increases pressure on both.
In light of COVID-19, the timeline for success has shifted as has its definition. How we enter the market, either early or late, will alter the pricing, reimbursement, and market access (PRMA) landscape and necessitate a reevaluation of how to effectively employ PRMA tactics. It’s now more critical than ever to carefully consider how current changes to the competitive environment impact our PRMA options in both positive and negative ways.
At MME, we help our clients make the most informed and profitable PRMA decisions. When it comes to evaluating competition, our Competitive Engagement Simulation™ (CES) is the gold standard. Designed as an alternative to classic “war gaming” and to help avoid zero and negative-sum gains, CES considers the best angles for developing competitive impact by mapping out possibilities and expected results. Using supplemental input from relevant outside parties (from direct interaction in market research), our team simulates a pathway forward through any competitive landscape that will position your business above the rest.
Our goal is to help our clients understand how to manage the competitive space to optimize opportunities while avoiding downward spirals in access and revenue. Contact us today to schedule a meeting to discuss how we can help.