Innovation

To celebrate its 50th Anniversary, OHE held a conference this week, The Challenges and Economics of Drug Development in 2022, which explored the likely evolution of the key aspects of drug development over the next ten years. The conference was attended by over 100 participants from the public and private sectors; speakers and panellists included leaders from drug regulatory agencies, health technology assessment (HTA) groups, payers, the pharmaceutical industry, private foundations, and academia.

Between 1962 and 1998, OHE published more than 100 booklets on various diseases and conditions as part of a series on “current health problems”. The first and the last of the disease state papers were on the same illness: tuberculosis. The first paper, from 1962, was the OHE’s first publication; the second, the last in the series, was published in 1998. What is most remarkable in comparing these two is less the change in successful treatment than the context within which the disease exists.

The Economics of Drug Development in 2022 On 8 October, 2012, in celebration of its 50th anniversary, OHE will be holding an important conference to consider what drug development may look like ten years hence, in 2022. The conference will be held in London on Monday, 8 October 2012.

Now available from the OHE website, this report provides a clear explanation of the complex nature of innovation in medicines. A fully revised and expanded version of the 2005 edition of The Many Faces of Innovation, it updates the review of the literature on the economics of innovation, traces important innovation that has occurred since the earlier report, adds new case studies, and updates the discussion of competition in pharmaceutical R&D.

Just published are the results of an OHE Lunchtime Seminar given by Prof Riccaboni, from the University of Trento. In this publication, he explores whether R&D productivity in the pharmaceutical industry has declined and, if so, why.

Just out is an OHE Research Paper that examines the issues. The authors note that diagnostics not only facilitate health gain and cost savings, but also provide information to inform patients’ decisions on interventions and to clarify how their behaviour may affect their health in future.

OHE's Dr Jorge Mestre-Ferrandiz is a visiting lecturer in the Department of Economics at City University London. As part of his 2012 activities, he recently gave a comprehensive lecture on the economics of the market for medicines in the UK.

Interest is growing in schemes that involve “paying for pills by results”, that is, “paying for performance” rather than merely “paying for pills”. Despite its intuitive appeal, this approach is is highly controversial and is disliked by many health care providers, policy makers, and pharmaceutical companies.

Over the past four years, OHE has been involved in research intended to examine more thoroughly the economic value of medical research in the UK. Understanding and maximising the value includes consideration of both direct and indirect returns when deciding research policies. Taking account of spillovers is essential.

During the last quarter of 2011, OHE team members were involved in discussions and presentations in a range of forums, covering each of OHE's three areas of focus. This post reviews their activities.

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