The questions on cost and value are important, but they miss the opportunity to reach consensus, patient-centered solutions. Read the four places the discussions focused on cost often run amiss:
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When #PhRMA14 concluded last week, we walked away from our 56th Annual Meeting with new ideas and perspectives to keep pushing the industry forward. The speakers and attendees discussed a number of important topics, and this week we focused on the value of and access to innovative medicines for patients in need.
For the last 20 years, the federal 340B has helped biopharmaceutical companies and hospitals partner to share treatments and medicines at a discounted price with those who could not otherwise afford them. The program has helped millions of uninsured and vulnerable patients gain access to the treatments necessary to lead fuller — healthier lives. Unfortunately, the 340B program lacks an effective oversight mechanism to ensure the discounted treatments are reaching their intended recipients.
Last Friday marked another successful PhRMA Annual Meeting where the biopharmaceutical and patient community, policy makers, academics, and more, came together to discuss challenges and opportunities facing patients today. The Annual Meeting covered an array of topics all centering on the theme of: How we can convert hopes into cures for our nation’s patients.
As the debate around the cost of Hepatitis C treatment rages on, a Bloomberg article yesterday highlighted other potential Hepatitis C medicines on the horizon and the many benefits they could provide for patients living with this debilitating disease. What’s more, many of the potential new medicines might be able to offer patients fewer unwanted side effects and require less monitoring and follow-up care.
“Mac,” as just about everyone in Portland knows him, is a pharmacist and pharmacy teacher deeply concerned about a dangerous new practice in which several companies appear to be selling non-FDA approved and potentially adulterated medicines to Maine patients.
Collaboration was rightly a focal point of #PhRMA14 because it is incredibly important to developing new medicines. As PhRMA CEO John Castellani said at the meeting, the industry is changing rapidly and we continue to compete by “joining hands…building new strength and breadth…[and] adapting and leading.” One of the most important ways to accomplish this is by incorporating the patient into everything we do.
The final day of #PhRMA14 concluded with Celgene CEO Bob Hugin passing the Chairman’s gavel to Pfizer CEO Ian Read. It has been a successful three days and our current momentum will undoubtedly propel us into another year of research and innovation. Governor Terry McAuliffe said it best this morning by noting that innovative solutions often happen through collaboration.
As the twelve countries negotiating the Trans-Pacific Partnership (TPP) approach the finish line after years of hard work on an ambitious agreement, there remains quite a bit of work left to be done. Now that all the low hanging fruit has been picked, the most difficult issues remain to be finalized., Much of the criticism of TPP from outside groups is based on flawed or false assumptions that severely understate the role of intellectual property in developing new and lifesaving medicines.
Day two of #PhRMA14 was chock full of insightful conversations focused on the current state of the biopharmaceutical industry and what it will take to continue to innovate.
The following is a guest blog post from Information Technology and Innovation Foundation President Rob Atkinson, who participated on a panel today at #PhRMA14 that discussed the value of medical innovation.
The guest post below by Robert Hugin originally appeard on The Hill. Hugin is the chairman and CEO of Celgene Corporation and chairman of PhRMA.
America's status as the research lab for the world is no longer secure.
Day one of #PhRMA14 was a success! Celgene CEO and PhRMA Chairman Bob Hugin set the tone for the meeting by emphasizing the industry’s commitment to the patient. It is because of that commitment that we have seen tremendous progress and a real prospect of producing dramatic breakthroughs. Yet, there are still challenges that must be addressed, and discussions tomorrow will speak to six key initiatives to help address them.
After many months of planning and hard work, I’m excited for the kick-off of PhRMA’s 2014 Annual Meeting tomorrow afternoon at 4pm. I think we have a great meeting planned – and I’m thrilled to announce that nearly all of it will be live-streamed on our website.