SOURCE: Cutting Edge Information

Cutting Edge Information

November 19, 2015 12:39 ET

Life Sciences Companies Leverage Existing Trials and Database Studies to Control Comparative Effectiveness Research Study Costs

RESEARCH TRIANGLE PARK, NC--(Marketwired - Nov 19, 2015) - Given the high cost and the heavy risk of negatively impacting a product, comparative effectiveness research (CER) can be a hard sell to internal stakeholders at life sciences companies. As such, many companies actively look for ways to generate useful comparative effectiveness data without having to budget for dedicated CER trials, according to a recent study from primary intelligence firm Cutting Edge Information.

Among surveyed companies, only 40 percent of global teams and 20 percent of country-level teams collect CER through dedicated trials. A more popular choice among global groups is to make sure that existing Phase 3 trials are set up to collect appropriate endpoints and that they include a comparison element with a competitor. Database studies are also extremely common at both the global and country levels. These studies, however, come with their own unique challenges in terms of collecting and using the data.

"For some specialty therapeutic areas, documentation is not always standardized across all sources," said Jacob Presson, senior research analyst at Cutting Edge Information. "This lack of uniformity can undermine the validity or viability of a potential database study."

Comparative Effectiveness Research: Value Stories that Engage Patients, Physicians and Payers, available at http://www.cuttingedgeinfo.com/research/market-access/comparative-effectiveness-research/, provides metrics on the cost and duration of comparative effectiveness studies, as well as how to best deliver this data to external stakeholders. The report examines the changing priorities with regards to conducting comparative effectiveness research in the United States. Report highlights include:

  • Benchmarking data showing total comparative effectiveness spending and CER spending per product from 2013 to 2015
  • Top executives' strategic recommendations for delivering CER data to payers - and using health outcomes liaisons to supplement managed markets account managers' efforts
  • Data showing the amount of time spent discussing CER with payers

For more information about Comparative Effectiveness Research: Value Stories that Engage Patients, Physicians and Payers and other health economics related topics, please download the report summary at http://www.cuttingedgeinfo.com/download/?ref=31046.

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