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.
Increasingly, governments in the UK and throughout Europe see R&D driven growth as the best way out of the financial crisis. The Government identifies the 'UK’s world-class research base' as a key driver of economic growth. But does the evidence of returns from public investment in R&D match the rhetoric?
Antibacterial drug resistance is a serious and growing worldwide problem that threatens our ability to cure traditionally treatable diseases and to successfully perform numerous surgical procedures that rely on antibacterials. The current situation is due primarily to two causes: inappropriate use in humans and animals, and the decline in the development of new antibacterials, largely because of lower returns on investment in R&D. OHE has been very involved in both defining the challenge and thinking through possible responses.
This post reviews OHE's activities in September 2011 that contributed to advancing thought and stimulating innovative ideas in its three key research areas: financing and delivery of health care, HTA methods and processes, and the economics of the pharmaceutical and life sciences industries.
This is the first in a series of posts that will review OHE’s contributions to advancing thought and stimulating innovative ideas in its three key research areas: financing and delivery of health care, HTA methods and processes, and the economics of the pharmaceutical and life sciences industries.
Just published by OHE researchers is a comprehensive analysis of what policy measures are needed to counter the growing global problem of antimicrobial resistance. Their key findings are summarised in this blog post.