Tapping The Value Of Value-Adds: Why The Drug Industry Needs To Monetize Services And Support
In recent years, it has become standard practice for marketers of pharmaceutical and biotechnology products to offer a whole host of wraparound services to bolster the value proposition of their brands. Why not sell them?
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Manufacturers and payers will continue to work on innovative pricing arrangements, roundtable panelists said, but they are likely to be less complex and resource intensive than many of the risk-sharing contracts announced to date, particularly in Europe.
When you think about the impact of the Food & Drug Administration’s focus on real-world drug safety, the disruptive implications of the Affordable Care Act, and the relentless pressure to find savings in health care, it is easy to see the dangers posed to biopharma companies. But those forces aren’t all negative. In fact, they are helping to mobilize government, consumer groups and payors to push hard on at least one decidedly pro-pharma agenda: improving adherence with prescription medicines.
The British government and pharmaceutical industry are negotiating a pricing system that allows the National Health Service to pay more for a drug as its value is demonstrated in clinical practice