Global Differential Pricing: Promising Approaches and Implementation Challenges

PURPOSE:

Timely access to innovative medicines across different countries and regions can improve the life expectancy and quality of life for citizens of the world, and reduce existing health disparities. However, there remains significant delay in access to innovative treatments in certain countries or regions, particularly the low- and middle-income countries. An effective global differential pricing mechanism can enable more timely access to medical innovations while further incentivizing R&D efforts.

The workshop aims to highlight the potential benefits of global differential pricing mechanisms, outline advantages and implementation challenges of various global differential pricing schemes, and discuss the role of different global stakeholders in ensuring the successful implementation of differential pricing mechanisms.

DESCRIPTION:

Richard Willke will first describe the key challenges in access to innovative medicines globally, review the economic theory for differential pricing, and highlight the potential benefits of effective global differential pricing mechanisms (10 minutes). Using real-world case examples, Tess Cameron will illustrate how revenue streams across different countries/regions are being considered in investment decisions for promising compounds, and discuss how alternative global different pricing mechanisms might impact investment decisions and welfare of global citizens (10 minutes). Lou Garrison will review existing and promising approaches to global differential pricing mechanisms, and discuss the advantages and implementation challenges with each potential solution (10 minutes). Mikkel Oestergaard will discuss the key action steps that different stakeholders can take to ensure the successful implementation of a global differential pricing mechanism, and describe key success metrics (10 minutes).

The workshop will end with Q&A with the audience (20 minutes). Polling questions will be used throughout to identify key challenges in timely access to innovative medicines and prioritize different differential pricing mechanisms. This workshop will be relevant for a wide range of global stakeholders including patients, employers, payors, modelers, policymakers, and value assessors.