In recent years, healthcare systems have undergone significant transformation. Scientific breakthroughs and technological advancements have led to more precise treatments that are customised for the individual patient.
However, given the bespoke nature of these treatments, they often carry significant price tags. Despite various key geographical markets developing new pathways to facilitate early adoption of these treatments, payers and policymakers are increasingly objecting to rising healthcare costs, which has resulted in many innovative treatments not being adopted for clinical application to benefit patients.
As we reflect on the drug pricing legal and policy debates unfolding in various jurisdictions across the globe, the following themes emerge:
- Strong - and growing - interest in value-based pricing
- Governments’ increasingly active role in scrutinising drug pricing
- Movement towards a global reference drug pricing
To read more about these themes, please click here for an article authored by Lincoln Tsang, Margaux Hall and Hannah Kerr-Peterson, written for GLI Pricing & Reimbursement 2021.
Ultimately, various stakeholders must seek to achieve a balanced approach that ensures that innovations are appropriately rewarded and also recognises that pricing needs to be calibrated according to local legal frameworks and healthcare environments – all in furtherance of the goal of offering equitable access to innovations.