ISPOR Europe 2018 Whitepaper – Hot Topics from the Event – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)-- The "ISPOR Europe 2018 Whitepaper" report has been added to ResearchAndMarkets.com's offering.

The ISPOR 21st Annual European Congress held in Barcelona on 10-14 November. Here, we present some of the hot topics discussed at the event, including:

• The Trump administration's recent proposal to internationally price index Medicare part B products against prices in Europe, and the likely impact on access and expenditure.
• The growing appetite for value-based assessments in the US.
• The challenges associated with the valuing and funding of potentially curative treatments, including cell and gene therapies and cancer immunotherapies.
• The advantages and disadvantages of utilizing budget caps and expenditure limits in European health systems.

The opinions of panelists given below are their own, and not do not represent their affiliated companies or institutions.

• Value-based pricing, rather than IPI, is the best solution to the US pricing problem
• Throughout the International Society for Pharmacoeconomics and Outcomes Research (ISPOR) 2018 European Conference in Barcelona, the rising cost of prescription drugs in the US, and Trump's recent plans to introduce international reference pricing to European counterparts, were heavy topics of debate. Unlike in Canada and many of the European markets, where governments and health technology assessment (HTA) agencies determine the prices of pharmaceuticals based on their perceived additional value, manufacturers in the US are free to set their own prices for therapies. This has led to a situation in which brand growth has exceeded GDP growth, with healthcare spend per capita dwarfing that of any other high-income country. As the gap in spending between the US and the rest of the world continues to grow, President Trump's administration has proposed a number of techniques, including International Price Indexing (IPI) in order to curb pharmaceutical expenditure.

Highlights

• US reimbursement and supply chain systems drive up prices
• Trump's plans to introduce IPI are expected to have either a negligible or negative impact on access and expenditure
• The wider use of value-based frameworks is seen as a more workable solution
• Toolkits for valuing and financing curative therapies already exist, but implementation is a challenge
• Wider value measures are needed for curative therapies, but a consensus between stakeholders is unlikely to be achieved
• Reaching a social consensus on value measures is highly challenging
• Novel payment mechanisms are required due to high upfront c.of therapies
• New approaches are needed, but these are not unique to cures
• Budget caps and expenditure limits: are they necessary?

Overview

• Value-based pricing, rather than IPI, is the best solution to the US pricing problem
• Toolkits for valuing and financing curative therapies already exist, but implementation is a challenge
• Budget caps and expenditure limits: are they necessary?

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Related Topics: Pharmacoeconomics

Source: Research and Markets