The Evolution of Medical Benefit Contracting: How Pharma Can Prepare
Given the growth of specialty pharmaceuticals, manufacturers will need to develop more aggressive contracting strategies to secure optimal market access for their medical benefit drugs. Shifting market dynamics, driven in part by the influx of lower cost biosimilars on the pharmacy benefit, will require pharma companies to focus more on
What Payers Want: Understanding Payer Preferences When Evaluating Therapies
Many manufacturers are interested in which factors can give them an edge on obtaining preferred coverage with payers. This is especially true given the increasing competition in saturated categories such as immunology, diabetes care and breast cancer. We scoured recent MMIT research to gain a better grasp on the factors
Market Access 101: Understanding the Basics
For many pharmaceutical companies, planning for commercialization only begins in earnest when a drug has been submitted for FDA approval—which is far too late. Ideally, a company’s commercial and market access teams should be fully functional long before the approval stage, as many decisions must be made in the early
Is Lab Data the Secret Weapon for More Efficient Clinical Trials?
According to the National Institutes of Health (NIH), approximately 80% of research studies fail to meet their enrollment goals within the stated timeframes. Recruitment and trial design challenges can prolong the timeline for phase III studies, driving up costs and delaying market entry. While many sponsors use aggregated data and
Payers and PBMs Are Excluding Cancer Drugs at a Growing Rate. How Can Manufacturers Prepare?
With rebates now a common pharma practice, and generics and biosimilars launching in oncology, payer management of once-untouchable cancer drugs is growing. As the FDA continues to approve a large number of cancer drugs, resulting in increased competition in various tumor types, and spending on these agents continues to rise,
Integrating Lab Data Into Your Physician Engagement Strategy: 5 Key Benefits
For manufacturers, successful physician engagement hinges on the ability to prioritize physicians with a high volume of potentially eligible patients—and to interact with those physicians at the ideal moment in time, when they are most receptive to brand messaging. While many pharma companies rely on retrospective claims data to identify
Manufacturers: Are You Familiar With Payers’ Genetic Testing Coverage Procedures?
As researchers continue to identify specific genetic markers within different diseases, more and more treatments targeting those markers are launching. In fact, more than 77,000 genetic tests currently are available. They can identify, for example, what type of breast cancer or non-small cell lung cancer a patient has. Some can
Five Reasons You Can’t Ignore Payers During Pipeline Development
Could previously launched drugs that significantly missed sales expectations have met a different fate if their manufacturers had accounted for payer perspectives in their early stage development strategy? Let’s start with some stats. About half of the drugs launched in the last 15 years underperformed analysts’ sales estimates by more
For Manufacturers and Pharmacists, Patient Access Is a Team Sport
Getting a life-saving therapy into the hands of a patient who needs it is much easier said than done. While overcoming the numerous hurdles to adequate access typically falls to manufacturers, there are many stakeholders involved in this effort, from providers to payers to patients themselves. Pharmacists, too, play a
The Push to Cover More Health Management Tools: A Shift From Acute Medicine to Health Management
Today’s healthcare world is seeing a shift from acute medicine to health management. A contributing factor to this has been the COVID-19 pandemic. A recent report shows that 66% of respondents with chronic conditions were more interested in taking a proactive approach to health than prior to the pandemic. People