BEGIN:VCALENDAR VERSION:2.0 PRODID:-//jEvents 2.0 for Joomla//EN CALSCALE:GREGORIAN METHOD:PUBLISH BEGIN:VEVENT UID:8f30b0a11baca6e9301d690bd3ba3f21 CATEGORIES:Colloquium CREATED:20220119T160420 SUMMARY:Dr. Perry Yin, Novartis Pharmaceuticals Corp. DESCRIPTION:The Evolving Pharmaceutical Landscape in the US and Its Impact on Drug Comm ercialization\nOver the past several years, innovation in the life sciences industry has increasingly shifted towards specialty medicines that are aim ed at smaller and smaller patient populations. This shift has become so pro nounced that estimates state half of biopharma revenues now come from produ cts of this nature and that such products will drive over 80% of biopharma growth through 2026. However, this has come with a price tag – higher devel opment costs have led to higher list drug prices, leading payers to demand ever higher rebates and expand their use of drug utilization management tec hniques. In turn, drug manufacturers have responded by increasing investmen t in programs that support patient access and so on and so forth. This ever -escalating situation can best be described as a veritable “war of all agai nst all,” where manufacturers continue to raise prices and find ways to ove rcome payer utilization management, while payers constantly look for new wa ys to contain those costs. This makes today’s economics unsustainable, with our system becoming one that encourages and relies on high drug list price s, extensive opaque rebates that are generally not passed through to patien ts, and substantial administrative and cost-sharing barriers that can even apply to the appropriate use of medicines by patients. The result? All stak eholders suffer – patients, physicians, payers, and biopharma companies. At Novartis, we believe there is a better way. Specifically, we see a path fo rward built around a simple, common-ground solution, wherein both drug pric es and patient access are based on clinical value - in other words, "Value- Based Price for Value-Based Access."\nHosted by Professor KiBum Lee\nHybrid seminar: On-site location is CCB-1303; for Zoom meeting information, pleas e contact Loretta Lupo @ (mailto:lal275@chem.rutgers.edu)This email addres s is being protected from spambots. You need JavaScript enabled to view it. \n X-ALT-DESC;FMTTYPE=text/html:
The Evolving Pharmaceutical Landscape in the US and Its Impact on Drug Commercialization
Over the past several years, innovation in the life sciences industr y has increasingly shifted towards specialty medicines that are aimed at sm aller and smaller patient populations. This shift has become so pronounced that estimates state half of biopharma revenues now come from products of t his nature and that such products will drive over 80% of biopharma growth t hrough 2026. However, this has come with a price tag – higher development c osts have led to higher list drug prices, leading payers to demand ever hig her rebates and expand their use of drug utilization management techniques. In turn, drug manufacturers have responded by increasing investment in pro grams that support patient access and so on and so forth. This ever-escalat ing situation can best be described as a veritable “war of all against all, ” where manufacturers continue to raise prices and find ways to overcome pa yer utilization management, while payers constantly look for new ways to co ntain those costs. This makes today’s economics unsustainable, with our sys tem becoming one that encourages and relies on high drug list prices, exten sive opaque rebates that are generally not passed through to patients, and substantial administrative and cost-sharing barriers that can even apply to the appropriate use of medicines by patients. The result? All stakeholders suffer – patients, physicians, payers, and biopharma companies. At Novarti s, we believe there is a better way. Specifically, we see a path forward bu ilt around a simple, common-ground solution, wherein both drug prices and p atient access are based on clinical value - in other words, "Value-Based Pr ice for Value-Based Access."
Hosted by Professor KiBum Lee