The Good News – breakthrough therapies
Public research organization and private sector innovators are delivering on the new science. Investments in genomics, epigenetics and system biology are paying off. Pipelines are full with breakthroughs; targeted and immunotherapy in cancer; and soon with cell and gene therapy.
The taxonomy of disease is re-written as we move towards precision (personalized) medicine where therapy is selected on each patient’s biology. One medicine will be used in different indications, and in different combinations, all with potentially different value.
The Problem – No access
Today’s legacy market access processes are lagging behind scientific innovation. Pharma and payers in Europe have discovered that price competition can exist within a framework of value-based pricing, but negotiations take way too long – even with just two parties. Negotiations among three parties – needed for combination pricing – are even more complicated.
As a result, there is a logjam of therapies. In some of the wealthiest countries in the world, patients aren't getting the medicine they need and drug companies aren't making any money on their newest therapies. Current pricing and reimbursement models were not built for indication-based and combination pricing. A new approach is needed to reflect the new science and recent changes to market dynamics.
The Solution – an exchange
PharmaCCX is laying the foundation for a completely new ecosystem that reconciles the underlying price structures and price negotiation processes of new pharmaceutical therapies with the already advanced scientific efficacy of these therapies. The PharmaCCX exchange catalyzes pricing and procurement of innovative medicine by healthcare payers quickly and efficiently -- accelerating patient access to the best medicines available for their diseases.
The first users of this "smart exchange" include global oncology pharmaceutical companies and some of the most innovative healthcare systems in Europe.