CURRENT TRENDS IN SUSTAINABLE MEDICINES MARKE
Journal Title: Българско списание за обществено здраве (Bulgarian Journal of Public Health) - Year 2017, Vol 0, Issue 4
Abstract
Price-gouging in the health care sector has attracted serious public attention and has become highly politicized in many jurisdictions. The ongoing EU Commission‘s probe into excessive pricing practices suggests that, at least in the context of the health care industry, exploitative practices will no longer stay unnoticed. The crafting of an administrative legal text by the Commission, which will enable competition authorities in EU to determine whether a price is “excessive” or practice is “exploitative”, is fraught with difficulties. Moreover, assuming such a regulation could be put through, central and country administrations would then be faced with the equally difficult task of prescribing an adequate remedy. In addition. we don’t see a trend that suggests that pharmaceutical companies are specializing into price increases, it is rather publicists ‘created context that attracts attention. In this context, the authors review current pricing trends for products with competition, and discuss the qualitative portfolio funding decisionmaking model, according to which companies make choices on funding product developments and pursue licensing opportunities. The model focuses on the products’ early business stage, no matter if small or big molecule and regardless from the product’s origin (in-house developed or in-licensed), and addresses issues specific to prior product launches. The authors discuss how this early stage risk assessment proves itself to be successful in supplying the market with more sustainable products. The authors also argue that many therapeutic indications that were once attractive to invest in, are now dangerously saturated with commoditized molecules (1) (albeit not always a superior therapy is available), and that medications’ current market prices, in many cases, are not relevant to the value they provide to the patients. Such devaluation, detached from the value that products bring, and provoked only by price competition, may have negative long-term impact on patients, on the industry and on health care systems. The authors identify and discuss three criteria reflecting a sustainable medicines market from the perspective of payers and manufacturers – fair price levels, healthy competition and modern therapy penetration.
Authors and Affiliations
Todor Finkov, Patryk Izdebski, Petko Salchev
Keywords
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