New therapies are hitting the market at an unprecedented pace, and the innovation behind the treatments combined with the proportion designed to treat rare diseases is putting pressure on every segment of the industry. Demonstrating the value of a new therapy’s benefits versus its price is the core of marketing new pharmaceuticals.
Life sciences companies have a variety of tools to demonstrate the value of their medicines in the real world, but any innovative agreement or study should definitively answer these five questions:
- What problem is a VBA designed to solve?
- Does my real-world evidence account for the real world’s irregularities?
- Will COVID-19 change the landscape?
- Does my plan meet the needs of government payers, and can either of us be flexible?
- Is your product so innovative that it requires a new payment model?
Read more in this PM360 magazine article by Paul V. Tyahla and Michelle Leeds from the Reputation and Risk Management group at Syneos Health.