Industries : Life Sciences

Price Management in the Life Sciences Industry

While companies in the Life Sciences industry face unique regulatory constraints, they face pricing challenges similar to many other industries including High Tech. In addition to managing portfolio effects and product life cycle events, companies in the Life Sciences industry face numerous pricing issues including:

Setting the right price for new product introductions and for products already in the marketplace
Enforcing the price point in the marketplace through complex deal structures that include rebates, discounts and promotions
Managing multiple distribution channels
Developing meaningful market share and revenue forecasts for products in development
Developing organizational capabilities to meet changing company needs

For executives in Life Sciences, improved pricing capabilities turn into significant bottom line results. Greater accuracy in setting prices can significantly improve revenues across the product portfolio. Enhanced sales force management capabilities, one of the most powerful levers available, can reduce maverick pricing and ensure that the "best" price for each deal is developed and communicated. Better insight into the attributes that drive value can contribute to product development decisions. Improved business processes can create more nimble organizations able to turn information and analysis into actionable insights and informed pricing decisions.

Rapt is well-suited to address the pricing problems faced by companies in the Life Sciences industry, where the dynamic competitive and regulatory landscape makes it critical to get the price "right." A company's success will depend on their ability to set and enforce prices for current products, to forecast market share and revenue for products in the pipeline accurately and to set and enforce prices for current products. Combining deep professional services expertise and best-pricing practices with software solutions tailored to meet industry needs, Rapt understands the challenges and delivers significant value. Our industry leading clients include:

Rapt very rapidly assessed our current situation using a blend of data-driven analyses and their extensive pricing experience. Their recommendations were specific and actionable.

Sue Siegel
President, Affymetrix

Case Studies

Implementing Pricing Best Practices

Executives at a leading biotechnology company recognized that active management of pricing was a significant lever for value creation but their current pricing processes could not handle demands brought on by rapid growth...

Read the full case study

What does this mean for me?

For executives in the Life Science industry, Rapt pricing solutions deliver best-in-class technology and deep operating expertise to improve decision-making, pricing and ultimately profitability.

Learn how we can help your company

Advanced Reporting Tools

Traditionally, companies manage lifecycle pricing through a combination of manual workarounds to map new SKUs to "donor" SKUs and guesswork to estimate cross-elasticities and baseline demand. Within Price Director, we have developed a replicable and scalable model that automatically identifies similar products and leverages their history to apply lifecycle and cross-elastic effects to the new product. This enables more accurate projections of demand and more profitable pricing decisions.

Pascal Bensoussan
Senior Director Product Management at Rapt

Quick Links to our Solutions:

	Solutions Search Solutions Price Director Inventory Manager Business Advisor Services Technical Architecture Back to Media Industries : Life Sciences Price Management in the Life Sciences Industry While companies in the Life Sciences industry face unique regulatory constraints, they face pricing challenges similar to many other industries including High Tech. In addition to managing portfolio effects and product life cycle events, companies in the Life Sciences industry face numerous pricing issues including: Setting the right price for new product introductions and for products already in the marketplace Enforcing the price point in the marketplace through complex deal structures that include rebates, discounts and promotions Managing multiple distribution channels Developing meaningful market share and revenue forecasts for products in development Developing organizational capabilities to meet changing company needs For executives in Life Sciences, improved pricing capabilities turn into significant bottom line results. Greater accuracy in setting prices can significantly improve revenues across the product portfolio. Enhanced sales force management capabilities, one of the most powerful levers available, can reduce maverick pricing and ensure that the "best" price for each deal is developed and communicated. Better insight into the attributes that drive value can contribute to product development decisions. Improved business processes can create more nimble organizations able to turn information and analysis into actionable insights and informed pricing decisions. Rapt is well-suited to address the pricing problems faced by companies in the Life Sciences industry, where the dynamic competitive and regulatory landscape makes it critical to get the price "right." A company's success will depend on their ability to set and enforce prices for current products, to forecast market share and revenue for products in the pipeline accurately and to set and enforce prices for current products. Combining deep professional services expertise and best-pricing practices with software solutions tailored to meet industry needs, Rapt understands the challenges and delivers significant value. Our industry leading clients include: Rapt very rapidly assessed our current situation using a blend of data-driven analyses and their extensive pricing experience. Their recommendations were specific and actionable. Sue Siegel President, Affymetrix Case Studies Implementing Pricing Best Practices Executives at a leading biotechnology company recognized that active management of pricing was a significant lever for value creation but their current pricing processes could not handle demands brought on by rapid growth... Read the full case study What does this mean for me? For executives in the Life Science industry, Rapt pricing solutions deliver best-in-class technology and deep operating expertise to improve decision-making, pricing and ultimately profitability. Learn how we can help your company Advanced Reporting Tools Traditionally, companies manage lifecycle pricing through a combination of manual workarounds to map new SKUs to "donor" SKUs and guesswork to estimate cross-elasticities and baseline demand. Within Price Director, we have developed a replicable and scalable model that automatically identifies similar products and leverages their history to apply lifecycle and cross-elastic effects to the new product. This enables more accurate projections of demand and more profitable pricing decisions. Pascal Bensoussan Senior Director Product Management at Rapt Quick Links to our Solutions: Media Solutions Price Director Inventory Manager Business Advisor Services