Rethinking the Risk Equation
in Biopharmaceutical Medicine
The New Health Report 2012: Download a copy of the New Health Report 2012Learn More
Key Findings: Explore the key findings of this year's surveyView Key Findings
Stakeholders: Examine results organized by stakeholderView Stakeholder Data
Graphics Library: Download ready-to-use graphics of New Health Report dataLearn More
The New Health Report is Quintiles’ annual examination of biopharmaceutical stakeholders. The 2011 report looked to provide further understanding of stakeholder perceptions toward value in healthcare and medicine, and called upon open dialog and ongoing collaboration to foster an environment conducive to pharmacologic innovation. This year’s report aims to build upon that call for collaboration by exploring the element of value at risk as it relates to biopharmaceutical development and delivery.
Given the global macro-economic environment and many governments’ focus on balancing unfeasible budgets through austerity programs, the pressure for biopharmaceutical companies to demonstrate the value of their products for driving optimal improvement in public health has never been greater. As such, resulting policies—i.e., reimbursement and coverage decisions—will in large part be dictated by a framework that includes a formulaic process for determining a biopharmaceutical product’s value relative to its risks. Yet, while centralized paying bodies are a critical component for the ultimate commercial success of a new treatment, all other stakeholders within the healthcare ecosystem—biopharmaceutical companies, providers, patients and financial investors—also must determine the tradeoffs of how much of value is worth being put at risk, without the benefit of having either a standardized or centralized formula for doing so.
Much of the data analyzed in this report reveals the need for deeper knowledge of the inherent risks in healthcare and medicine. To address this, the biopharmaceutical industry must develop new approaches and do that as soon as possible. The results of this survey indicate that the industry can act now in several ways: collaborating early with payers on new compounds under development; striking pre-competitive alliances among industry competitors to enhance the innovative characteristics of new compounds; and developing risk-sharing agreements to enhance patient-population targeting.
The New Health Report 2012 shows that healthcare stakeholders often disagree—between and within groups—on what risks matter the most. This study arises from a survey of 102 biopharmaceutical executives; 1009 patients living with a chronic disease in the United Kingdom or the United States; 72 National Health Service (NHS) executives in the United Kingdom; 75 managed care executives in the United States; and 100 investors with a focus on the life sciences sector.