A new report has laid out the need for drugmakers to participate in creating clearer pathways to achieve better outcomes in the face of "changing perceptions of what offers value to health systems".
The latest analysis from PharmaFutures, a "multi-year dialogue" including participants such as
GlaxoSmithKline, Johnson & Johnson, Novo Nordisk and Shire, as well as the likes of Fidelity Worldwide Investment and JPMorgan Asset Management, explored the implications of health reform in Europe, the USA and the emerging markets. It looks at how pharmaceuticals could contribute to improving productivity and health outcomes.
The report sets out "a road-map for future value creation in a rapidly changing reimbursement context", and concludes that "a new approach is required to establish how medicines represent value to changing health systems". It calls for strong leadership to "drive collaboration and cross-sector understanding of the very real pressures on all constituencies - health departments, pharma companies and payers.
The study argues that pharma "needs investors’ backing to deliver on this long-term agenda", adding that "the strategic prize is a model of drug development, licensing and pricing that offers more predictable results for patients, health systems, companies and their investors".
PharmaFutures director Sophia Tickell, said the research "shows strong appetite and clear pathways for new ways of bringing drugs to market and getting them paid for". However, "this will require stakeholders to work together in a systemic way to manage data, collaborate and rebuild trust".
GSK chief executive Sir Andrew Witty (pictured) added that "by focusing our energies on creating truly innovative medicines offering real benefit to patients and which are affordable, the industry has a great opportunity to bring value to patients and health systems as well as shareholders". He went on to say that "to make this potential real, industry needs to challenge its business models".