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12 April 2022
Tuesday 12th April, 2022, London UK – Global Pricing Innovations (GPI), a leader in market access and commercial strategy solutions, will be presenting data and insights from three research projects, as well as a highly anticipated Panel discussion focused on key pricing and market access themes at ISPOR, taking place May 15th-18th, in Washington D.C, United States.
The headline abstract ‘Forecasting Drug Price for Reimbursement By Utilizing a Value-Price Relationship, a Case Study in Hormone-Relapsed Prostate Cancer’ has been nominated as top five percent finalist at the ISPOR Research Presentation Awards. The research focuses on GPI’s award-winning value assessment and price forecasting methodology, GPI horizon and suggests that establishing the value-price or value-QALY gain relationship for a selection of drugs in the same indication can be applied to accurately forecast the reimbursed price of a new product.
“Our research, particularly in oncology forecasting, is vitally important in achieving our mission”. Says Preeti Patel, GPI CEO. “Our aim is to support the industry and payers in achieving a sustainable balance between pricing of medicines and patient access, through the use of data-driven analytics and technology innovation. Through this research, we are able to demonstrate the value of not only the data, but what we can do with it.”
The second of our abstracts ‘List prices for Medicare negotiation-eligible medicines targeted by Build Back Better drug pricing provisions estimated to be reduced by over 40% on average’ takes a deep-dive into the Build Back Better social spending bill, and how, if enacted, drug pricing policies could set a new precedent for negotiation of Medicare drug prices with lasting impact on the industry in the US.
Furthermore, our research ‘The impact of value-based pricing (VBP) vs. international reference pricing (IRP) on innovative drugs in the US’ compares IRP to VBP, for a list of innovative drugs to understand how commonly-utilised pricing policies in regulated markets may impact drug prices in the US. This research will also be the focus on a Panel discussion featured by conference organisers as one of the top ten Health Economics and Outcomes Research (HEOR) trends at ISPOR this year.
What is the preferred approach to US Drug Pricing Reforms: International reference pricing, or value based pricing?
Join GPI, alongside colleagues from Aetion, Duke-Margolis Center for Health Policy and PhRMA, as we discuss the preferred approach to US Drug Pricing Reforms. The panel discussion, taking place Monday 16th May at 10:15am, will look into the current US pricing reforms and use analysis, leveraging GPI pulse™ 2.0 data, to compare IRP and VBP for 23 drugs, across 28 indications to debate results and preferred approaches.
ISPOR is a leading global conference and brings together all healthcare stakeholders, representing the best opportunity to help bring sustainable market access strategies and patient-driven approaches to the forefront of the industry. To find out more about the conference, and our research visit ISPOR web page.
About GPI
GPI is a market leader in analytics and innovative solutions for biopharma pricing and market access. Founded in 2015 and headquartered London, GPI support price decision-making throughout the lifecycle and help the industry achieve day-to-day operational improvement and market access excellence.
As a team of leading domain specialists, GPI provide high quality, curated insights and recommendations on global drug pricing strategy, market access optimisation, asset evaluation, value perception and payer behaviour. GPI’s suite of technology and bespoke service offerings are all powered by their dynamic analytics platform, GPI pulse™ 2.0.