OBJECTIVES: Utility values are required to conduct cost-utility analyses for the economic evaluation of novel therapies. While preference-based utility measures, such as the EQ-5D, are preferred by healthcare payers, they may inadequately capture condition-specific differences in health-related quality of life (HRQoL) or may not be available from clinical trials. Utility values for patients with polycythemia vera (PV), a myeloproliferative neoplasm (MPN), are not available in the literature; however, the PV RESPONSE trial collected EORTC QLQ-C30 and MPN-SAF data.  The objective of the current study was to estimate utility values for PV patients using existing mapping algorithms. METHODS: EORTC QLQ-C30 data from the RESPONSE trial were mapped onto the EQ-5D using published mapping algorithms for various cancers (e.g., multiple myeloma, breast, gastric, esophageal). Utility values were also estimated using the MF-8D, a condition-specific preference-based measure that was developed for myelofibrosis, another MPN, using both the EORTC QLQ-C30 and MF-SAF. Utility values obtained from the various mapping algorithms were compared. RESULTS: At baseline in the RESPONSE trial, utility values calculated for PV patients using EORTC QLQ-C30 cancer mapping algorithms ranged from 0.70 to 0.92. Utility values derived from the two versions of the MF-8D were also within this range, at 0.79 (equal weighting) and 0.73 (Rasch weighting). Clinical opinion indicated that the MF-8D captures the key symptoms of PV (e.g., pruritus, abdominal pain/discomfort, bone pain, night sweats) better than the other cancer algorithms. CONCLUSIONS: The MF-8D may be more appropriate than other cancer algorithms for estimating utility values for PV patients, as it includes the most important symptoms of PV.  This measure is expected to better capture treatment-specific differences affecting HRQoL that are important for the economic evaluation of emerging therapies.