Forecasting Drug Price for Reimbursement By Utilizing a Value-Price Relationship, a Case Study in Hormone-Relapsed Prostate Cancer
GPI attended ISPOR (May 22), in Washington D.C, and had the opportunity to present three research abstracts, including our drug price forecasting study, utilizing a value-price relationship
GPI attended and presented research at ISPOR, held at the Gaylord Resort & Convention Center, Washington D.C, United States on 15-18 May 2022. GPI presented three research posters, including ‘Forecasting Drug Price for Reimbursement By Utilizing a Value-Price Relationship, a Case Study in Hormone-Relapsed Prostate Cancer‘. The abstract was nominated in the top 5% for the ISPOR research awards, recognising the scientific merit of our oncology research.
Background & Objective
Due to the different evidence requirements and archetypes of HTA bodies, forecasting the value of a new product is a challenge. Value and price are correlated and can be applied to determine the price of new products. The aim of this study, focused within oncology, was to forecast and validate the price of darolutamide in England, France and Germany using a value framework approach.
- Health Technology Assessment (HTA) bodies have different evidence requirements to appraise a new product.
- In England, National Institute for Health and Care Excellence (NICE) utilizes Quality-Adjusted Life Years (QALYs) to determine a cost-effectiveness threshold and support the price setting mechanism.
- In France, reimbursed price is set by the Haute Autorité de santé (HAS) following rating by the Commission de la Transparence (TC) of
actual benefit (SMR) and improvement in actual benefit (ASMR) of the product. - In Germany, the Gemeinsamer Bundesausschuss (G-BA) assesses additional clinical benefit of the product, which informs price setting
following a one year free-pricing period. - These inherent differences across markets provide a challenge for forecasting the value of a new product using a single methodology. Value and price are correlated and can be applied to determine the price of new products.
Research Details
Conference: ISPOR
Focus Topics: Forecasting Drug Price, Reimbursement, Value-Price Relationship, Drug Pricing, Market Access
Resources: GPI pulse™ Data Analytics Platform, GPI horizon, Price & Market Access Specialists
This research, and all of our research, utilise data from our analytics platform, GPI pulse™.
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