Data and Analytics in the Pharmacutical and Life Sciences sector

The pharmaceutical and life sciences industry has been flooded with data. Generated by the proliferation of personal medical devices, social media and electronic medical records, data and analytics has the potential to transform the industry – but only if companies can translate it into actionable business intelligence.

The plethora of newfound data made available by modern technologies and generated directly by consumers can give manufacturers valuable insight into how patients are using their products. This information can help pharmaceutical and life sciences companies give payers the real-world evidence they demand to prove the efficacy and value of new drugs and devices. The challenge lies not in collecting this data, but in harnessing and analysing it to create competitive advantage.

Insights and intelligence derived from fast-moving data sets can help inform strategy decisions, spur innovation, inspire new products, enhance customer relationships, and bolster operations.

At PwC, we use data and analytics to help organisations in the pharmaceuticals sector to:
  • Optimise pricing strategy for products in competitive markets through predictive modelling of market share under innovative pricing arrangements
  • Accurately forecast sales volumes based on the unique features of products and markets to  improve the efficiency of stock management
  • Understand key markets and position products appropriately to improve market share through the collation and analysis of stakeholder trust data

Data and Analytics tools for Pharmaceuticals and Life Sciences:

  • Pricing Strategy Tool

Case studies

Pricing strategy tool

We used our pricing strategy tool to investigate the impact of alternative pricing strategies on the client’s sales revenues and thus the NPV of the product.

The sales tool allowed for the impact on price and demand to capture how these offsetting factors combined to change the value of the drug, as well as capturing the impact on patient outcomes. The analysis was used to feed into a piece of strategy work to determine the best approach to entering a new market against a strong competitor product.

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Predictive modelling – identifying key indicators of demand or risk to improve strategic planning

Our predictive model enabled our client to forecast the level of sales they were likely to achieve in their key export markets.

This enabled more accurate planning assumptions to be determined which meant that the client had a way to target significant but achievable savings through the new, more realistic planning assumptions.

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Contact us

Richard Petley

Richard Petley

Data & Analytics in Assurance, Midlands Regional Leadership, PwC United Kingdom

Tel: +44 (0)121 265 5756

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