Weighing-in on the Cost and Value of Innovation

Weighing-in on the Cost and Value of Innovation

07.31.14 | By

Earlier this week, PhRMA participated in the Wall Street Journal’s first tweet chat hosted by Ed Silverman, who spearheads the publication’s blog, Pharmalot. The spirited and interesting conversation focused on the cost and value of innovative, new medicines, and University of Southern California Professor Dana Goldman co-hosted and contributed his economic expertise.

A diverse group of stakeholders, including patient advocates, economists, biopharmaceutical company representatives and insurers all weighed in and provided different perspectives on the issue of cost and value of innovative medicines. Continued innovation of new treatments for patients can provide both societal and economic value – and should be considered in any discussion about cost. This point is particularly relevant as conversations around medicines that treat diseases such hepatitis C and cancer continue to move forward. 

Ensuring patients have access to the medicines they need remains our priority, and this chat was a great way to hear from different groups on the issue. We look forward to collaborating with stakeholders from across the health care ecosystem to tackle this difficult issue, and are excited about participating in future Pharmalot chats.

The full chat is below for your reference. Check it out and be sure to let us know your thoughts in the comments section below.  

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