AI-Based Pricing Assistant

PharmaPulse uses AI for dynamic drug pricing, offering competitive insights and boosting profitability in the pharmaceutical sector.

Quick Summary

PharmaPulse, an AI-powered tool developed by our team, has helped a global pharmaceutical enterprise optimize their drug pricing strategy. Leveraging advanced data analytics and machine learning, the tool provides actionable insights to set up competitive, yet profitable pricing for their products in an intensely competitive marketplace.

The Problem

A multinational pharmaceutical company was operating in a highly competitive environment, struggling to stay viable due to ineffective pricing strategies of their medicinal products. Their previous pricing framework was unable to quickly react to competitor price changes, sales trends, and the impact of generic medicine on the market.

The Solution

Working alongside the company, we designed a dynamic tool fuelled by advanced data analytics and machine learning. The tool closely analyzes a myriad of parameters, such as competitor pricing changes, sales trends, and market penetration of generic drugs, to deliver data-driven insights for optimized pricing strategies. The technologies employed included artificial intelligence and cutting-edge data science to optimize and streamline pricing strategy, bringing a significant edge in the fierce pharmaceutical market.

The Outcomes

  • Implementation of the tool led to a positive impact on the company’s profit margins, competitive position, and pricing strategy.
  • Enabled swift reactions to competitors’ pricing changes.
  • Facilitated understanding of complex sales trends
  • Aided in comprehending the impact of generic drug penetration on the market
  • Supported the derivation of optimal product pricing.
  • The optimized pricing, validated by data, has positively impacted the sales and profitability of their products.
  • Strengthened the company’s competitive stance in the pharmaceutical sector.

The Tech Stack

  • Python for building the application
  • Keras & TensorFlow for training deep learning models
  • AWS SageMaker & Rekognition for model deployment
  • Power BI dashboards for analytics.

Ready to Start?

Let’s take the first step towards transforming your business into a data-driven entity. Partner with us to leverage artificial intelligence and advanced analytics,maximizing profitability. We recognize the uncertainties inherent in AI project outcomes,hence our engagement model requires only a minimal, fully refundable deposit. We committo transparency, and if any issues arise that cannot be overcome, your deposit is guaranteed to be refunded.