New: Priority Review Vouchers and Innovation

Priority Review Vouchers (PRVs) are awarded in the US to companies that gain approval there for one of sixteen tropical diseases, under a law passed in 2007. The PRV entitles the holder to priority review by the FDA of another drug of the bearer’s choice.  The Vouchers are transferable, not limited to use by the company that gained  approval of the neglected-disease drug.

This Seminar Briefing recounts a presentation by Prof Henry G Grabowski, one of the originators of the idea of PRVs.  It includes:

• a brief history of the idea and its eventual translation into law
• a discussion of how this incentive may interact with others for the development of drugs that may treat neglected diseases
• how the ability to sell PRVs may provide important benefits for smaller biotechnology firms and non-profits that develop drugs specifically for neglected diseases
• the implications  for patients’ access to drugs given priority review
• how and to what extent companies may benefit financially from winning or acquiring a PRV
• likely practical challenges in implementation
• the value of PRVs as an incentive mechanism for the development of drugs for neglected diseases, judged against accepted criteria

Download Grabowksi, H.G. Priority Review Vouchers to encourage innovation for neglected diseases. Seminar Briefing. (8). London: Office of Health Economics.