I applied online and the process took 4+ weeks - interviewed at PriceSpective in May 2013.
Interview Details – Over a period of 4 weeks I had a 30 min phone screener, 60 minute phone interview with a Director, than a multiple hours in person day with 3 1:1 interviews. the first was for fit, second with a case example, and last with VP that allowed me to direct the conversation more than the rest.
Interview Question – Nothing unexpected or too difficult. Answer Question
I applied through college or university and the process took 4 months - interviewed at PriceSpective.
Interview Details – The interview was an extremely long and disappointing process. They had delayed the interview for one month after I was informed about the opportunity to interview. I had the interview on campus with the vice president of the company. It was a typical behavioral/ case study first round interview. The interview lasted 45 minutes. I was informed that I had second round interviews, but after 2 months of waiting, they contacted me and informed me that the position was no longer available.
Interview Question – Case study: What recommendation would you provide an insurance company regarding the coverage of a new drug? Answer Question
I applied through a recruiter and the process took 3 days - interviewed at PriceSpective.
Interview Details – - Contacted via online posting
- Initial phone interview about previous work experience and why PriceSpective
- Interviews the next day with VP, two Directors, one Senior Consultant, and one Senior Analyst
- Two case studies on pharmaceutical industry
- Overall, found job and interviewed within 2-3 period
- Received offer after 3 weeks
Interview Question – - (Case study 1): How would you price Product X, given ABC market data, to maximize revenues? Tier placement effects on price-volume trade-offs?
- (Case study 2): How would you segment the payer markets for Product Y? At what price point would you recommend for this product? Why? View Answer
Negotiation Details – - Negotiated signing bonus
- Advice: Negotiation power depends on position, higher up positions obviously more negotiating power
Very Difficult Interview
I applied through college or university and the process took 3 weeks - interviewed at PriceSpective in October 2011.
Interview Details – Frustrating. Pricespective certainly is one of the fastest growing bio consulting firms, but some of the directors and senior consultants are incompetent. I first had a 60 minute 1:1 fit and case interview with a VP. He was very nice and I had a very good perception of the company. I was invited to the second round and it was 2 1:1 60 minute fit and case interview. This is the problem. The senior consultant who gave me the case was very unorganized and he even gave me the wrong numbers. While I was doing case A, he gave me figures from case B. The whole interview was just ruined by this one senior consultant. Then I had a second case interview with the director. She was really sarcastic.
Interview Question – How would you price this drug? Answer Question
The process took 2 weeks - interviewed at PriceSpective in February 2012.
Interview Details – 10-15 minutes - resume discussion
30-40 minutes - case interview (related to the kind of work they do - market size, pricing and market access)
15 minutes - questions for interviewer
Very friendly folks. Case interview is tricky if you dont practice but if you're alert and keep track of things you can come up with the best answer they're looking for easily.
Interview Question – Tell me about yourself - give me a description based on resume View Answer
The process took 2 months - interviewed at PriceSpective in May 2011.
Interview Details – Despite what sounded like an urgent need to fill a vacancy, they took a long time to get it together. Typical interview process - phone screen, on site, second on site, offer. Work-life balance was promoted as being "reasonable", but the folks out doing the heaving lifting looked terrified every time I walked by. Bad vibe all around.
Interview Question – there were no questions that were hard. Answer Question
Reason for Declining – They didn't seem to know what they were looking for nor was there a clear career track. The company has been around for quite a while now and they've had the same number of partners almost since the beginning...no one has been promoted. Seems like a sweat shop. Also, one of the people (I think she was a director even) was really sarcastic in the interview - her behavior made me think of high school and not a professional services firm. Salary amount was reasonable, but I got a sense that work life balance would be bad.
The process took 1+ week - interviewed at PriceSpective in September 2009.
Interview Details – 1st round 1:1 with HR to go over resume
2nd round 1:1 with director level or above to see if they want to bring you in
3rd round 4 1:1 interviews lasting approximately 30 minutes and a 30 minute case presentation to the group that dealt with value strategy
Interview Question – Given certain information, you have to figure out if buying a drug portfolio is a good investment. Answer Question
The process took 2 weeks - interviewed at PriceSpective in June 2008.
Interview Details – Following an informative phone screen, I was invited into the office for a 4+ hour series of 1:1 interviews and a case study review/presentation. I was extremely impressed with the qualifications, personalities and general feel of the company and office environment.
Interview Question – The case study was difficult as it includes a detailed analysis of scientific information, financial graphs and requires the respondent to present to a group of people. View Answer
Negotiation Details – I didn't feel the need to negotiate as the offer was fair and met my indicated salary range. Compensation included all the important points. Salary + Bonus, 401k, health and dental, plus a great vacation/holiday package.
I applied online - interviewed at PriceSpective in October 2013.
Interview Details – 1. Phone interview with HR-general questions on yourself and why you chose the company
2. Face to face interview with senior consultant/director (competency based questions + questions derived from your resume) + 1 case study.
3. Face to face interview with VP/Associate Director (competency based questions) + 1 case study.
4. Case study presentation-given in advance (one week in advance) for you to prep and questions about it after.
#1 happened 2 weeks after the online application was made. #2-#4 all happened on the same day as the company did not have time to schedule it all on different days.
Interview Question – Case Question 1: Market sizing, pricing of a drug. This is the question: A large pharma company is expecting EMA approval for a therapy that treats lower respiratory infections i.e. Drug Y (which is an antibiotic). In about six months the division will receive EMA approval to launch drug. Despite this apparent good news from the EMA, the EU division is concerned about the market potential for drug Y and it’s ability to reach key prescribers in the therapeutic category.
You have been asked to help them determine the commercial value of this product and the likelihood of use, and determining whether they should:
Co-market with a partner (Joint venture)
Sell or license the drug
The concerns over market potential centre on whether the drug can gain adequate competitive advantage in a market segment having a dominant, patent-protected competitor and low cost generic antibiotics. Additionally, a higher technology antibiotic, which appears to offer therapeutic advantages was recently introduced by a competitor.
Case Question 2: Putting a drug into a market, IP issues and should they proceed or not.
Case Question 2 was more difficult than case question 1. View Answer
Very Difficult Interview
I applied through an employee referral and the process took 2 weeks - interviewed at PriceSpective in September 2011.
Interview Details – Pretty difficult interviews. Case interviews were long and required good knowledge about biopharmaceuticals industry. Be persistent if you want to get in. PriceSpective hires rarely and is pretty competitive from what I understand. I would recommend you network your way into the firm (in my experience, the employees were pretty receptive to my networking). Makes sure you practice your cases and/or know a good deal about the industry (medical/pharmacy benefits, Medicare, net pricing, basic knowledge about popular disease areas, and even some strategy or game theory thinking is helpful).
Interview Question – Suppose you are in the therapeutic space X (information on space given in handout), with one competing IV agent on medical benefit and one injectible product on the pharmacy benefit, how would you advise entering the market? Why? How would you contract with hospitals, physicians, and/or commercial payers? How would you inform your contracting decisions to prevent losing net value? Bonus: how does Medicare Best Price factor into this decision? Answer Question
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