IMPLICATIONS FROM HEOR AND RWE MODELS FOR BIOPHARMACEUTICAL COMMERCIAL ANALYTICS TO DEMONSTRATE DRUG VALUE THROUGH SALES AND MARKETING OF SPECIALTY MEDICINES
Author(s)
Chressanthis GA
Axtria, Berkeley Heights, NJ, USA
Presentation Documents
Biopharmaceutical industry trends show an increased focus on specialty medicines. Specialty medicines account for 35% of US drug total spending, half of total spending growth is on new drugs available for <2 years, and with oncology comprising 35% of all 2015 new drug launches. However, biopharma pricing of specialty medicines is not economically sustainable. There is a growing gap between rising costs of pharmaceutical R&D for drug innovation and individual/societal willingness and ability to pay for this innovation. Numerous complications arise from specialty medicines catering to orphan drug-like patient populations. Drug pricing and demonstration of value problems are acute with targeted personalized anti-cancer medicines. What can biopharma companies do to demonstrate value for specialty medicines when conducting sales and marketing? Traditional commercial model design that emphasizes unit sales growth will not suffice. The literature lacks practical mechanisms companies can use to bridge implications from HEOR/RWE models with commercial operations for successful demonstration of drug value that benefits patients and the healthcare system. This proposed research presentation will provide a conceptual framework that combines traditional HEOR/RWE models with commercial analytics (defined as commercial model design, payer/patient/sales/marketing analytics, commercial analytics innovation center, and cloud information management) to support informative sales and marketing activities of specialty medicines. The result will be a more effective demonstration of drug value through sales and marketing by improving health outcomes, cost-effectiveness, and overall healthcare spending. Commercial analytics activities are becoming interdependent as opposed to distinctly-operating functions. Payer/patient analytics will be the principal emphasis and drive all commercial decisions leveraging outcomes from HEOR/RWE modeling. All remaining analytics will be to support payer/patient outcomes. A new approach to commercial analytics is needed, requiring greater alignment among these activities, an open-system framework in solving commercial problems, data environment constructed to support these activities, and leadership/organizational changes.
Conference/Value in Health Info
2017-05, ISPOR 2017, Boston, MA, USA
Value in Health, Vol. 20, No. 5 (May 2017)
Code
PHP316
Topic
Health Policy & Regulatory, Methodological & Statistical Research
Topic Subcategory
Confounding, Selection Bias Correction, Causal Inference
Disease
Multiple Diseases