100: Welcome and First Plenary Session: Global Focus on Affordability and Inward Investment – What Does It Mean for HEOR?
Roberts S1, O'Brien JM2, Drummond M3, Seshamani M4
1National Institute for Health and Care Excellence (NICE), London, UK, 2National Pharmaceutical Council, Washington, DC, USA, 3University of York, York, North Yorkshire, UK, 4CMS, Washington, DC, USA
Increasingly governments across the globe are focusing on measures to manage affordability of medicines and encourage inward investments, i.e., within country investments, by life science companies. From the US’s Inflation Reduction Act introducing price negotiations on some medicines and caps on out-of-pocket expenditure to Germany’s recent increased rebate and reduction in ‘free pricing’ period, there is an increased focus on managing expenditure of medicines. In parallel, countries are vying for inwards investment through measures such as rebate reductions for inwards investment in Spain to incentives such as increased prices for domestic clinical trials in Japan. These measures traditionally sit outside the standard HTA process but can have significant implications for pricing and access of medicines both today and in the future. Does this focus on affordability and inward investment fundamentally challenge the traditional HEOR approach of valuing patient benefit and cost at the level of an individual medicine? This session will reflect on the multi-national environment and consider the role HEOR could play in the affordability and investment debate.