Specialty pharmaceuticals: to compare cost with value, more productivity research is key
![](/46/pdcnewsitem/04/14/35/ibi.png)
A new commentary published in The American Journal of Pharmacy Benefits argues that the value of specialty pharmaceuticals — to patients, employers and society at large — has been left out of the discussion.
Specialty pharmaceuticals often represent the most effective — and sometimes the only — option for treating or curing life-threatening diseases such as HIV/AIDS, cancer and hepatitis C. Despite their therapeutic value, specialty pharmaceuticals have recently garnered attention for their high costs — in excess of $100,000 per year, in some cases.
A new commentary published by the Integrated Benefits Institute (IBI) in The American Journal of Pharmacy Benefits argues that the value of specialty pharmaceuticals — to patients, employers and society at large — has been left out of the discussion.
IBI's Research Director, Brian Gifford, argues that the combination of high-cost medications and insurance plans with high out-of-pocket costs may prompt some patients to forego necessary and beneficial care for serious medical conditions. Costs due to lost productivity could be high if worsening illness leads to more sick days, disability leaves or exits from the labour force. Yet few studies have looked seriously at the impact of specialty pharmaceuticals and productivity.
"The prices of these drugs are high, but the cost of denying people access to them is likely higher," said Gifford. "Decisions are being made about the cost-effectiveness of specialty pharmaceuticals without fully understanding their benefits — including whether they help keep people functioning and on the job."
Fully understanding the costs and benefits of specialty pharmaceuticals requires research that can close the following evidence gaps:
IBI's commentary describes a feasible research agenda on the overall costs and benefits of specialty pharmaceuticals. Cumulatively, the findings could provide stakeholders such as employers, policymakers and patients' groups with empirical evidence on which to formulate specialty pharmaceutical policies.
Related News
-
News Ophthalmologic drug product Eylea faces biosimilar threats after FDA approvals
Regeneron Pharmaceutical’s blockbuster ophthalmology drug Eylea is facing biosimilar competition as the US FDA approves Biocon’s Yesafili and Samsung Bioepis/Biogen’s Opuviz. -
News ONO Pharmaceutical expands oncology portfolio with acquisition of Deciphera
ONO Pharmaceutical, out of Japan, is in the process of acquiring cancer-therapy maker Deciphera Pharmaceuticals for US$2.4 billion. -
News First offers for pharma from Medicare drug price negotiations
Ten high-cost drugs from various pharma manufacturers are in pricing negotiations in a first-ever for the US Medicare program. President Biden’s administration stated they have responded to the first round of offers. -
News Eli Lilly’s Zepbound makes leaps and bounds in weight-loss drug market
In the last week, Eli Lilly has announced their partnership with Amazon.com’s pharmacy unit to deliver prescriptions of Zepbound. Zepbound has also surpassed Novo Nordisk’s Wegovy for the number of prescriptions for the week of March 8.&nbs... -
News Chasing new frontiers at LEAP – The National Biotechnology Strategy Keynote
On the third day of LEAP (4–7 March 2024, Riyadh Exhibition and Convention Centre, Malham, Saudi Arabia) the CPHI Middle East team hosted the Future Pharma Forum, to set the scene for an exciting new event for the pharma community, coming to Riya... -
News Pfizer maps out plans for developing new oncology therapeutics by 2030
Pfizer dilvulges plans to investors around growing their cancer portfolio, and the drugs they will be focusing on developing after their aquisition of Seagen in 2023. -
News Generics threat to Merck’s Bridion as Hikma seeks pre-patent expiry approval
Merck has disclosed they received notice from Hikma Pharmaceuticals for seeking a pre-patent expiry US FDA approval for Hikma’s generic version of Merck’s Bridion. -
News Bernie Sanders vs Big Pharma - the latest on drug price negotiations
In a hearing in front of the US Senate, three of the biggest pharmaceutical companies in America are challenged over exorbitant prescription drug prices, with Sanders claiming their actions are limiting the population's access to affordable healthc...
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance