What is the purpose of a formulary kit for pharmaceutical companies?

Formulary kits are comprehensive, well-organized collections of materials designed to present detailed information about a pharmaceutical drug to formulary decision-makers, often in an interactive manner. Formulary kits ensure that products are both accessible and reimbursable within given healthcare systems, domestically and abroad.

Compared to the significant impact that good formulary kits can have on a drug’s commercial success, formulary kits are but a small investment.

What do formulary kits include?

• CLINICAL DATA – Summarized clinical trial results, efficacy, and safety profiles.
• ECONOMIC DATA – Pharmacoeconomic analyses, such as cost-effectiveness and budget impact models.
• REGULATORY INFORMATION – FDA-approved labeling and prescribing information.
• PRODUCT DIFFERENTIATION – Comparative studies showing advantages over competitors.
• USAGE GUIDELINES – Dosing, administration, and patient selection criteria.
• EDUCATIONAL RESOURCES – Patient support materials or provider training tools.

Formulary kits are a serious tool to promote your products to decision-makers throughout the healthcare system.

• They improve market access to ensure that a maximum number of patients have access to the drug.
• They facilitate decision-making by providing formulary decision-makers with easy access to a product’s clinical value, safety, and cost-effectiveness.
• They provide clear competitive differentiation by highlighting unique benefits of the drug over competitors, to justify inclusion in formularies.
• They support compliance by centralizing and standardizing information to ensure compliance with regulatory standards during discussions with payers.

Talk to the team at Omni Tech Medical (shlallement@omnitechmedical.com) about your needs and requirements. The Omni team has the background to efficiently and cost-effectively provide you with the very best!