SOURCE: Cutting Edge Information

August 28, 2007 10:20 ET

Pharmacoeconomic Departments' Success Tied to Early Product Development Work

RESEARCH TRIANGLE PARK, NC--(Marketwire - August 28, 2007) - A report by Cutting Edge Information, "Pharmacoeconomics and Health Outcomes: Driving Formulary Access and Reimbursement" (http://www.pharmacoeconomicsandhealthoutcomes.com), indicates that the most accomplished pharmacoeconomics/health outcomes groups have realized that early integration into product development gives them a competitive edge.

Though the majority of the companies in this survey involve their health outcomes teams by at least the end of Phase II, a number of companies discussed conducting preparatory work as early as Phase I, or even pre-clinical. The report finds that teams which finalize their preparations while drug candidates are in Phase I or Phase II of testing, place themselves in a better strategic position. By integrating themselves earlier, these teams work with clinical development groups to ensure that Phase III trials reach endpoints that deliver necessary pharmacoeconomics and outcomes data.

Also, if health outcomes groups begin earlier they are able to fully involve themselves in early clinical work, deepening their understanding of disease areas and drug classes. This helps the groups better identify the data and messaging that will support a brand's value proposition.

"By involving pharmacoeconomics teams early in drugs' lives, brand managers gain the ability to build endpoints into trials that will enhance products' value as they reach market," said David Richardson, a senior research analyst at Cutting Edge Information. "For example, if a brand team anticipates that a product needs a quality of life measure, the pharmacoeconomics team will prepare a validated questionnaire to use in Phase III trials. The team could not have offered this option if they were not involved with the product until late in its life."

"Pharmacoeconomics and Health Outcomes: Driving Formulary Access and Reimbursement," available at http://www.pharmacoeconomicsandhealthoutcomes.com, examines eight major pharmaceutical companies' pharmacoeconomics departments' strategies, spending, structures and staffing. Compiled from interviews and surveys with pharmacoeconomics directors, associate directors and executives, group vice presidents and vice presidents of managed markets groups, the report allows drug companies to compare and improve their own pharmacoeconomics strategies.

"Pharmacoeconomics and Health Outcomes: Driving Formulary Access and Reimbursement," available at http://www.pharmacoeconomicsandhealthoutcomes.com, features key graphics and metrics highlights including:

--  Pharmacoeconomics Budgets
--  Phase-to-Phase Brand-Level Pharmacoeconomics Spending
--  Departmental Monetary and Time Resource Allocations
--  Structures and Staffing
--  Departmental Funding Responsibilities
    

To view a summary of this report, visit http://www.pharmacoeconomicsandhealthoutcomes.com/.

Contact Information

  • For more information or to learn about other Cutting Edge Information
    research, contact:
    David Richardson
    Email Contact
    +1-919-433-0216