Washington, D.C. (June 22, 2015) — Pharmaceutical Research and Manufacturers of America (PhRMA) executive vice president, policy and research, Lori Reilly provided the following statement on the American Society of Clinical Oncology's (ASCO) conceptual framework for assessing the value of new cancer treatment options based on clinical benefit, side effects, and cost:
“We appreciate ASCO’s efforts to develop a new tool to support informed decision-making by physicians and cancer patients, with the goal of ensuring that each patient receives the treatments that are most valuable to them. Judgments about treatment value are highly individualized and vary over time as new research and new treatment options emerge. As the framework is finalized, it will be essential to ensure that it reflects the needs and preferences of individual patients, medical advances and increasing personalization in medicine, as well as the evolution of clinical value and cost over time. PhRMA looks forward to working with ASCO to develop sound decision support tools that support evidence-based decision-making by patients and physicians.”
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested more than $600 billion in the search for new treatments and cures, including an estimated $51.2 billion in 2014 alone.