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 Commerci alization
Over the past several years, innovation in the life sciences industry has increasingly shifted t owards specialty medicines that are aimed at smaller and smaller patient po pulations. This shift has become so pronounced that estimates state half of biopharma revenues now come from products of this nature and that such pro ducts will drive over 80% of biopharma growth through 2026. However, this h as come with a price tag – higher development costs have led to higher list drug prices, leading payers to demand ever higher rebates and expand their use of drug utilization management techniques. In turn, drug manufacturers have responded by increasing investment in programs that support patient a ccess and so on and so forth. This ever-escalating situation can best be de scribed as a veritable “war of all against all,” where manufacturers contin ue to raise prices and find ways to overcome payer utilization management, while payers constantly look for new ways to contain those costs. This make s today’s economics unsustainable, with our system becoming one that encour ages and relies on high drug list prices, extensive opaque rebates that are generally not passed through to patients, and substantial administrative a nd cost-sharing barriers that can even apply to the appropriate use of medi cines by patients. The result? All stakeholders suffer – patients, physicia ns, payers, and biopharma companies. At Novartis, we believe there is a bet ter way. Specifically, we see a path forward built around a simple, common- ground solution, wherein both drug prices and patient access are based on c linical value - in other words, "Value-Based Price for Value-Based Access."
Hosted by Professor KiBum Lee
Hybrid seminar: On-site location is CCB-1303; for Zoom meeting information, please contact
Loretta Lupo @
The Evolving Pharmaceutical Landscape in the US and It s Impact on Drug Commercialization
Over the past several years, innovation in the life sciences industry h as increasingly shifted towards specialty medicines that are aimed at small er and smaller patient populations. This shift has become so pronounced tha t estimates state half of biopharma revenues now come from products of this nature and that such products will drive over 80% of biopharma growth thro ugh 2026. However, this has come with a price tag – higher development cost s have led to higher list drug prices, leading payers to demand ever higher rebates and expand their use of drug utilization management techniques. In turn, drug manufacturers have responded by increasing investment in progra ms that support patient access and so on and so forth. This ever-escalating situation can best be described as a veritable “war of all against all,” w here manufacturers continue to raise prices and find ways to overcome payer utilization management, while payers constantly look for new ways to conta in those costs. This makes today’s economics unsustainable, with our system becoming one that encourages and relies on high drug list prices, extensiv e opaque rebates that are generally not passed through to patients, and sub stantial administrative and cost-sharing barriers that can even apply to th e appropriate use of medicines by patients. The result? All stakeholders su ffer – patients, physicians, payers, and biopharma companies. At Novartis, we believe there is a better way. Specifically, we see a path forward built around a simple, common-ground solution, wherein both drug prices and pati ent access are based on clinical value - in other words, "Value-Based Price for Value-Based Access."
Hosted by Professor KiBum Lee
Hybrid seminar: On-site location is CCB-1303; for Zoom meeting in
formation, please contact Loretta Lupo @