Finding the right value proposition
With health technology assessment organisations becoming more powerful in Europe, and huge public scrutiny on drug prices in the US, it’s vitally important that pharma companies start thinking about the value of their product early in development. Richard Staines spoke with Rosanne Campbell and Andrew Thomas from Syneos Health to find out more.
Getting drugs to market has never been easy, with regulators rightly demanding high standards in terms of clinical effectiveness, safety and the value proposition. But the influence of health technology assessment (HTA) bodies in Europe, such as NICE in the UK and Germany’s AMNOG pricing system, mean that pharma companies have several barriers to overcome before they are able to launch.
And on the other side of the Atlantic, US payers are becoming concerned about the high price tags for drugs – which can also be a barrier to access as prescription costs will often be funded in part or entirely by the patient.
According to Rosanne Campbell, senior project leader for value, access and HEOR, and Andrew Thomas, managing director for PR UK, pharma companies must start thinking about matters relating to price early on in drug development to maximise their chances of getting the product to market at a good price.