A perspective on the impact of international reference pricing from the Pricentric® team.
The global pharmaceutical market faces a complex network of regulatory, R&D and competitive issues that impact business performance. One of the biggest challenges the industry faces is international reference pricing (IRP). With IRP, discounted launch prices are no longer confined to discrete markets, enabling price fluctuations in markets to negatively impact pharmaceutical manufacturers around the world. This has devastated margins and revenues for many pharmcos.