The Trump administration is not the first government to explore the use of international price referencing to force drug prices down. This usually involves the institution of a price ceiling based on an average price for the same drug in a “basket” of other countries. The basket is supposed to consist of countries with similar income levels, but oftentimes that’s not actually the case. That’s just one of the many problems with international price referencing laws.
Read MoreTopics: Market Access & Pricing, Drug pricing, fair pricing, value and access, pharma drug pricing, Trump administration, global drug pricing, international price referencing laws, drug costs, differential pricing
Dean Hakanson co-wrote this blog post with Ed Schoonveld.
Is the demand for value-based care merely superficial? Are the industry’s decision-making and incentive systems built to encourage clinical innovation? How will pharma companies rethink their pipelines to improve poor commercialization efforts?
Read MoreTopics: Innovation, Pharma, Pharma Industry, Life Sciences, Market Access & Pricing, Drug pricing, Market Access, value, R&D, value-based pricing, commercialization, value and access, global drug pricing, ICER, value-based contracting, Financial Times
Pricing for prescription drugs has been a contentious issue around the world as payers and patients don’t understand the cause of high drug prices and are struggling with patient access. Particularly in middle- and low-income countries, affordability of drugs in cancer has become an important part of a dialogue between the World Health Organization, governments, non-governmental organizations and patient advocates. The WHO has organized several meetings to explore and drive resolutions for drug-pricing-related issues for patented and generic drugs.
Read MoreTopics: Innovation, Drug pricing, Patients, payers, World Health Organization, WHO, fair pricing, global drug pricing, price of clinical innovation, 2019 Fair Pricing Forum, patient affordability
The World Health Organization’s recently published report, “Pricing of Cancer Medicines and its Impacts,” has elevated the issue to the agenda of the WHO’s executive board and is likely to ignite a lot of debate and some potential actions. While the report raises some very legitimate concerns related to access to anti-cancer drugs for patients, it also falls short of understanding the pharmaceutical industry environment. Rather than simply blaming the industry, it would be more productive to understand what’s standing in the way of collaboration to address patient needs and then jointly try to develop realistic programs to resolve it.
Read MoreTopics: oncology, Pharma Industry, Life Sciences, Drug pricing, cancer, pharmaceuticals, R&D, World Health Organization, WHO, value and access, pharma drug pricing, global drug pricing, patient access
The Trump administration is not the first government to explore the use of international price referencing to force drug prices down. This usually involves the institution of a price ceiling based on an average price for the same drug in a “basket” of other countries. The basket is supposed to consist of countries with similar income levels, but oftentimes that’s not actually the case. That’s just one of the many problems with international price referencing laws.
Dean Hakanson co-wrote this blog post with Ed Schoonveld.
Is the demand for value-based care merely superficial? Are the industry’s decision-making and incentive systems built to encourage clinical innovation? How will pharma companies rethink their pipelines to improve poor commercialization efforts?
Pricing for prescription drugs has been a contentious issue around the world as payers and patients don’t understand the cause of high drug prices and are struggling with patient access. Particularly in middle- and low-income countries, affordability of drugs in cancer has become an important part of a dialogue between the World Health Organization, governments, non-governmental organizations and patient advocates. The WHO has organized several meetings to explore and drive resolutions for drug-pricing-related issues for patented and generic drugs.
The World Health Organization’s recently published report, “Pricing of Cancer Medicines and its Impacts,” has elevated the issue to the agenda of the WHO’s executive board and is likely to ignite a lot of debate and some potential actions. While the report raises some very legitimate concerns related to access to anti-cancer drugs for patients, it also falls short of understanding the pharmaceutical industry environment. Rather than simply blaming the industry, it would be more productive to understand what’s standing in the way of collaboration to address patient needs and then jointly try to develop realistic programs to resolve it.
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