Debating Genomic Viability
This article was originally published in Start Up
Genomics firms are hot on Wall Street now, but are they built to last? Experts debated the matter at Windhover's Pharmaceutical Strategic Alliances conference in New York City last month. Panelists considered questions such as: what sorts of things--not just genes, but Internet business methods--are patentable, and how long will they be?
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It is a world, at least the US corner of it, in which any common understanding of drug value is confused by opposing incentives – to opacity and transparency, to looking at benefit broadly or narrowly, long-term or short-term: value, in short, to whom?
Merck and UnitedHealth's Optum group have partnered to explore various value constructs.
Although stakeholders are interested in value-based models that link a drug’s performance to emerging evidence of improved patient outcomes, such agreements are difficult to implement and too limited in scope to drive a shift to value-based reimbursement. The authors suggest a new, structured approach to bring these contracts into the mainstream, thus transforming product reimbursement and fueling the shift from volume to value.