Confidential net prices are currently essential for differential pricing, which in turn is viewed as necessary to balance patient access with continual innovation in drug development.
Rising healthcare costs, fuelled by a changing political perspective on drug pricing regulation and negotiation in many countries, most notably in the US, are challenging this view and the issue of price transparency poses an existential threat to innovation in life sciences.
This is a global issue. In the US, manufacturers are being been forced to disclose Wholesale Acquisition Costs in Direct-to-Consumer advertising for many products. Last year, at the WHO Fair Pricing Forum, MSF claimed that “secret medicine prices cost lives”, and the WHO resolution urged countries to collect and share net price information. More recently, during the current pandemic, the cost of developing and manufacturing new interventions to treat or prevent the spread of COVID-19, and the factors driving their prices are under the public eye so it becomes more important than ever to understand the fundamental economics of value-based pricing.
Join us on the 21st July as OHE experts discuss the economics, politics, and public policy of international drug pricing.
Price Transparency in pharmaceutical pricing is the second topic in our exclusive 2020 Webinar Series.
Further information and registration available here.