Posted by Michael Wonder on 26 Nov 2018
Novartis CEO says four factors can help with pricing and payment of life saving cell and gene therapies
26 November 2018 - The new therapies are challenging the traditional model for paying for medical treatment, and the industry is divided on a new approach.
For decades now, the health-care industry, government and society have grown accustomed to a model for how diseases are treated. Scientists achieve a medical breakthrough, the biopharmaceutical industry develops a medicine, a doctor diagnoses a patient and the patient goes on a course of treatment that can last for years or a lifetime. This model has improved health dramatically across the globe over the last century. Yet we generally could not cure devastating diseases.
Novartis CEO Vas Narasimhan said the price for these one-time therapies should be based on four key measures of value – the improvements they offer to patients both clinically and in terms of their quality of life, and the benefits they offer to the health-care system and society more generally.
