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Valuation of Innovative Drugs (in person at ISPOR 2024)
LEVEL: Intermediate
TRACK: Health Policy & Regulatory
LENGTH: 4 Hours
| Course runs 1 day
This short course is offered in-person at the ISPOR 2024 conference. Separate registration is required. Visit the ISPOR 2024 Program page to register and learn more.
Sunday, 5 May 2024 | Course runs 1 Day
1:00pm-5:00pm Eastern Standard Time (EST)
DESCRIPTION
Separate registration required.
The value of medical innovation depends on the perspective. Registration authorities (EMA, FDA) mainly consider the clinical value of the medical innovation, whereas national health authorities take a broader perspective by including clinical, economic criteria, and potential other criteria like equity and social values. Value-based pricing is the most widely accepted approach in the pricing and reimbursement process in Europe, which varies from the narrow concept based on the incremental cost-effectiveness ratio (ICER) threshold to broader approaches. Value-based pricing determines the maximum price from the national payer perspective. This price should exceed the minimum price for the investor acting in the international financial market, which is based on economic valuation theory. Finally, there are other stakeholders, eg, patients, physicians’ healthcare insurers, employers, with their specific assessment of the value of medical innovation varying from, respectively, quality of life, effectiveness, budget impact, and costs of lost productivity. This course offers an overview of the perspectives of the relevant stakeholders and their respective data requirements for value assessment of innovative drugs. The course will then describe in-depth description of the various value-based pricing methods, eg, ICER, multicriteria decision analysis (MCDA), comparative effectiveness research (CER), and relative effectiveness (RE). We include examples of orphan drugs and ATMPs which are most striking to illustrate the concepts, but we also include value assessment for more traditional innovative drugs in broad indications. Familiarity with health economic evaluation is desirable, but the course assumes little or no familiarity with economic valuation theory.
Louis P. Garrison, Jr., PhD
Professor Emeritus
The Comparative Health Outcomes, Policy, and Economics Institute
Department of Pharmacy, University of Washington
Seattle, WA, USA
Marlene Gyldmark, MPhil
External Lecturer, Copenhagen University
Copenhagen, Denmark and
Head HEOR & Epidemiology
Idorsia Pharmaceuticals
Allschwill, Switzerland
Mark Nuijten, PhD, MD, MBA
Visiting Professor
Clinical and Economic Valuation of Medical Innovation
Ben Gurion University
Be'er Sheva, Israel and
Consultant
A2M
Amsterdam, North Holland, Netherlands
Basic Schedule:
4 Hours | Course runs 1 Day
ISPOR short courses are designed to enhance knowledge and techniques in core health economics and outcomes research (HEOR) topics as well as emerging trends in the field. Short courses offer 4 or 8 hours of premium scientific education and an electronic course book. Active attendee participation combined with our expert faculty creates an immersive and impactful learning experience. Short courses are not recorded and are only available during the live course presentation.
