Managing Monopoly Power
MANAGING MONOPOLY POWER
SITUATION:
Merck Sharp & Dohme (MSD) is a global pharmaceutical company with a large portfolio of therapeutics that are reimbursed under the Australian Pharmaceutical Benefits Scheme.
CHALLENGE:
The process for gaining reimbursement approval is highly structured and leaves little room for engagement and traditional negotiation. Significant revenue and years of effective sales hinge on a positive outcome. This means that strategy and skill are at a premium. Client engagement needs to be as effective as it can possibly be to maximise the opportunity for success.
ACTION:
Dr. Lohmeyer works with the team on major submissions, developing targeted simulations to enable the team to practice different strategies and to hone their pitch to make best possible use of the available opportunities.
RESULT:
Changing MSD’s approach to its key client has delivered substantial additional benefits to both MSD, the PBS and the Australian public.
“Matt has worked with my team as a negotiations coach over the past year. He has completely changed our approach to customer engagement.
His background in the biotech industry and deep experience in negotiations mean that he understands our issues and can hone in quickly on the points and behaviours most critical to us.
I would have no hesitation in recommending him.”