Economic Evaluation seminar - Alternative pricing policies for multi-indication products
Event details
Abstract:
Different pricing models have been proposed for multi-indication drugs including uniform and indication-based pricing (IBP). Existing studies have documented impacts on access, health and costs of different approaches. However, no studies have assessed the overall population health impact of alternative policies, accounting for launch timing, post-patent value, or effects on innovation. We compare uniform pricing, IBP and a hybrid policy. We quantify overall population health effects across the product lifecycle accounting for the opportunity costs of healthcare expenditure and potential effects on innovation. We find that while IBP and a hybrid policy can improve access to medicines in new indications, they must be carefully designed to avoid unsustainable cost increases. Lower approval norms are required for these policies to improve overall health outcomes.
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