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Latest From Melanie Senior
When it comes to drug pricing, one size certainly doesn’t fit all. Biopharma firms need to devise and design appropriate pricing and commercial strategies for payers, a group of customers that don’t all care about the same things and, in some cases, whose needs may be diametrically opposed.
Free content: Personalized medicine is upending the business of health care. In March, In Vivo will focus on exploring this new landscape. There is no single "right" route for companies to follow, but pharma, payers and other stakeholders need to find a path because the forces driving personalized medicine are global, and unstoppable.
European countries haven’t grappled with indication-specific pricing, mostly because they haven’t had to.
Indication-based drug pricing is one mechanism for pegging price to value. It will be tough to implement in the US without systemic change, but PBMs have plenty of incentives to make it work.
The Institute for Clinical and Economic Review has invited feedback on its methodology for calculating a drug's recommended price range. Industry response has been critical, but pharma can no longer afford to merely oppose value frameworks. It needs to create strategies for a world in which such frameworks are a permanent and influential part of the pricing and reimbursement landscape.
In February 2016, the non-profit Laura and John Arnold Foundation donated $4.7 million to Memorial Sloan Kettering Cancer Center’s Evidence Driven Drug Pricing Project, home of the DrugAbacus.