Pricing of new vaccines.
New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical, and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following ten components: 1. Conduct a target population analysis; 2. Map potential competitors and alternatives; 3. Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; 4. Quantify the incremental value of the new vaccine's characteristics; 5. Determine vaccine positioning in the marketplace; 6. Estimate the vaccine price-demand curve; 7. Calculate vaccine costs (including those of manufacturing, distribution, and research and development); 8. Account for various legal, regulatory, third party payer, and competitor factors; 9. Consider the overall product portfolio; 10. Set pricing objectives; 11. Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area.
Lee
Bruce Y
BY
University of Pittsburgh School of Medicine and Graduate School of Public Health, University of Pittsburgh, Pittsburgh, PA, USA. BYL1@pitt.edu
McGlone
Sarah M
SM
D003365:Costs and Cost Analysis / Q000379:methods*; D006301:Health Services Needs and Demand / Q000191:economics; D006801:Humans; D011634:Public Health / Q000191:economics; D012106:Research / Q000191:economics; D014612:Vaccines / Q000191:economics*
D014612:Vaccines