Patient Access to Rencell in China

Published 24 Jun 2013
Reference 5806
Topic Marketing
Industry Pharmaceuticals
Region Asia
Summary

Rencell is a targeted therapy against metastatic renal cell cancer, which significantly prolongs disease-free survival. However, Rencell's international wholesale price of $1,000 for one month of treatment makes the drug unaffordable for many patients in China. What pricing strategy should Axios International, a healthcare consultancy, recommend to Paracelsus, the large biopharmaceutical company which markets Rencell?

Teaching objectives

Pricing strategy for a life-prolonging medicine in a country where few patients can afford to pay the international price. Key concepts: - ability to pay, affordability - market access - price discrimination, differentiated pricing - corporate social responsibility

Keywords
  • pharmaceutical
  • pricing
  • price discrimination
  • market access
  • China
  • emerging country
  • cancer
  • corporate social responsibility
  • Q41213