Controlling the Cost of Pharmaceuticals – At What Price? A Discussion of the Economics of Drug Pricing
The pricing of innovative medicines is a galvanizing issue on the political campaign trail, on newspaper editorial pages, in negotiations between manufacturers and pharmacy benefits managers, and in litigation. Innovation that results in improved clinical outcomes for patients can come at a high price. Are there structural issues beyond innovation that are contributing to high drug prices? This panel will dissect the evaluation of drug prices, examining recent high-profile examples as well as emerging litigation and policy proposals. It will also discuss novel payment mechanisms that attempt to both preserve incentives for innovation and contain the budgetary impact of new medications on patients and payers.