The pharmaceutical industry has grappled with NZ for years. Struggling to build a sustainable NZ business model. Driven by the reimbursement process, which is literally a light switch, you are either “On” or “Off” in the NZ market! “On”… reimbursed with limited competition driving market shares not seen in other markets. “Off”… loss of reimbursement, loss of sales, with a NZ organizational structure that is no longer sustainable. There are hundreds of “littered” examples over the past two decades from both “big” and “small” pharma wanting to make a difference in NZ and “up-scaling” and “down-scaling” at a substantial cost, not just financially, but also reputationally with significant cost to employees and leadership alike.
When “On”, the sales begin to grow, organizations begin to build an unnecessary structure of headcount and resources. In 3-4 years when contracts are up for renewal, the additional cost limits the organization's ability to discount prices in a competitive process. This makes it easy for competitor companies to undercut on price and win the contract.
When “Off”, the loss of a contract is devastating for clinicians, patients, employees, and leadership. It often leads to redundancies and companies feeling hard done by, searching for solutions, absorbing the cost of having to “down-scale” yet again, and patients and clinicians having to switch treatments.
This often leads to companies leaving NZ altogether and running a small, limited number of sales through distributors.
Over time, when this pain is forgotten, companies look again to NZ for opportunities and often return with a new product they work to get funded, and the cycle begins all over again…
WellMed.NZ is here to break the cycle and ensure pharma companies get the best returns from NZ opportunities.
The NZ market is all about reimbursement, WellMed.NZ has the expertise and relationship with Pharmac which provides the best chance of success.
Once reimbursement is achieved the key is to resource to NZ conditions i.e. launch meetings, supporting annual physician specialty conferences, with “right-sized” sales and marketing activities.
With limited competition, being the only therapy funded locally in NZ for a particular condition, the goal is quality use of medicine and ensuring the right patients are prescribed the right treatment, at the right time in the right way. Unlike other markets where there is the need to drive share of voice and differentiation to combat competitors.
WellMed.NZ can manage this all for you at a significantly lower cost than if you did it yourself. With knowledge, expertise, existing relationships, and an established network WellMed.NZ can secure your investment in the NZ market for significantly less investment.
This in turn will ensure in the future your pricing can remain competitive when contract negotiations begin again.
Contact us for more detail.
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