Economics of Industry

Mestre-Ferrandiz, J., Berdud, M., and Towse, A.

Consulting Report
January 2018

The CRA Report has an underlying assumption that the EU is as globally competitive in generics and biosimilars as it is in innovative products. There is no evidence to support this. The correct industrial strategy for the EU may well be to focus on the development, manufacture and export of innovative products, rather than on lower value generics where EU global competitiveness appears to be weaker.

The CRA report makes estimates of effect using a number of assumptions, data and calculations that we do not find to be correct or which are not explained. Until these anomalies are addressed, our view is that the CRA analysis is not a fit basis for an impact assessment to guide policy.

This report explores the consequences of the exit of the United Kingdom (UK) from the European Union (EU) on public health in the UK and in the EU.

Drug prices in the US might overstate pharmaceuticals' long-run cost up to 75%. True long-term costs then must be considered by market access and policy decisions.

OHE Lunchtime Seminar with Sir Geoffrey Owen and Professor Michael Hopkins. The biotech sector of the US has enjoyed a success that the UK sector has found difficult to match. Will the Brexit improve or damage UK's biotech sector prospects?

A new paper sets out an insurance model as part of a global solution to incentivise R&D for new antibiotics to tackle multi-drug resistance. It offers (i) a reasonable return on R&D; (ii) risk mitigation for payers, providers and manufacturers, (iii) stewardship by delinking revenues from volume of use, and (iv) conservation of antibiotic effectiveness by ensuring the continued availability of new antibiotics in the long-term.

The presentations delivered by OHE at the iHEA congress, July 2017, are available in this post.

The Structural Genomics Consortium Oxford, University of Oxford, in collaboration with OHE (Prof Adrian Towse) and Dr Jorge Mestre-Ferrandiz, is recruiting for a Postdoctoral Position in “The Economics of life sciences’ R&D”.

Without new antibiotics, more patients will die from previously treatable infections. A key issue is how the value of antibiotics can be appropriately assessed by payers and HTA bodies.

Ferraro, J., Towse, A., and Mestre-Ferrandiz, J.

Briefing
May 2017

Resistance to antibiotics is growing, posing a major health risk in rich and poor countries. Additional ways of rewarding R&D are required.

Mechanisms designed to encourage companies to undertake R&D on new medicines are generally characterised as either “push” or “pull” programs.

Resistance to antibiotics is growing. Additional R&D is required. Both Transferable Intellectual Property Rights and Market Entry Rewards should be explored for use in Europe as a regional “pull” incentive.

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