The global pharmaceutical environment is under intense pressure, as a perfect storm of scientific innovation, budget pressures and public concerns over drug pricing is developing. The launch of innovative hepatitis C drugs with strong value propositions and high market needs have posed significant budget pressures for payers worldwide. Unfortunately, the drug industry has been substantially weakened, as the very strong arguments of long-term monetary and humanistic cost savings (cirrhosis, liver transplants and hepatic cancer) have not been sufficiently communicated, thus allowing the discussions to focus on short-term cost only.
Over the last few years, the global market access and pricing environment for drugs has been subject to substantial changes. With a large incoming flow of drugs based on new technologies, the drug industry needs to better prepare itself for funding challenges and related payer negotiations. In a recent IN VIVO article I discuss the impact of these new technologies in various global markets and suggest some specific actions to address the upcoming challenges.
As always, I look forward to your reactions and further discussion.