HOW DO ONCOLOGY DRUG PRICES VARY ACROSS EU5, US, AND BRIC MARKETS?
Author(s)
Patel P*;Donze B, Zaganelli D Alliance Life Sciences Consulting Group, Somerset, NJ, USA
OBJECTIVE: Pharmaceutical pricing is characterized by a consistent variability across markets. Social and economic differences represent only the easiest-to-predict reason for such variability. Stricter regulatory hurdles, market landscape, challenging negotiation processes, varying business strategies, and sometimes unplanned outcomes of pharma launch decisions concur in the final price for a specific drug. A better understanding of price trends and out-patterns is a useful insight to help improving pricing strategies by targeting realistic pricing expectations, and studying competitors’ pricing mistakes and successes.. This paper shows the price variability of ten different pharmaceuticals in ten key markets (France, Germany, UK, Italy, Spain, US, Brazil, Russia, India, and China). Common trends, similarities and particularities are discussed. METHODS: Using PRICENTRICTM data, we collected ex-factory prices for various oncology products, and we defined whether a country fell into a HTA system or free pricing group. We also compared the product prices to GDP per capita (International Monetary Fund 2012) to investigate trends between the two parameters. The analysis investigates two key areas: 1. Difference in price depends on social, economic considerations but also by the nature and complexity of market access process 2. The relationship between prices and GDP per capita across countries. RESULTS: The US and Germany have the highest prices of all studied countries. They are also the only two countries where prices are freely set by manufacturers. Prices are slightly higher in countries having a high GDP per capita. However, countries like France and UK having strong HTA authorities and pricing regulations do have a small correlation to this trend line. CONCLUSION: Our analysis shows that pricing and pharma strategies can be based on countries’ economic situation. Nevertheless, formal established HTA bodies with clear pricing rules help controlling pricing.
Conference/Value in Health Info
2013-11, ISPOR Europe 2013, The Convention Centre Dublin
Value in Health, Vol. 16, No. 7 (November 2013)
Code
PHP224
Topic
Health Policy & Regulatory
Disease
Multiple Diseases, Oncology