DAY TWO | WEDNESDAY, SEPTEMBER 18
8:30 REGISTRATION & WELCOME COFFEE
8:55 CHAIRPERSON’S OPENING REMARKS
9:00 ICE BREAKER- SHARING PERSPECTIVES AND INSIGHTS FOR DEFINING VALUE
This interactive ice breaker session will provide an opportunity for all participants to meet with peers, and engage in discussion on value focused pricing. Given the continuous discussion surrounding value based care and incorporating value into pricing strategy, attendees will have the unique opportunity to directly share knowledge and experience pertinent to defining value with related pharmaceutical pricing stakeholders including manufacturers, payers and patients.
9:30 PANEL: ESTABLISHING A COMMON DEFINITION OF VALUE BETWEEN PHARMACEUTICAL PRICING ENTITIES
Value-based pricing is the dominant trend in pharmaceuticals today, but partnering entities, manufacturers and even colleagues often differ on the meaning of the phrase. While most can agree “value” connotes some real-world advantage, the specifics of who or what should benefit lack consensus, and individual definitions are often in direct conflict. Featuring perspectives from a variety of organizations involved in pharmaceutical pricing, panelists will share how value applies to PBMs, manufacturers and patient advocates to achieve a unified agreement on how this emerging concept should be incorporated into pricing structures.
Joseph Fuhr, WIDENER UNIVERSITY
Jeromie Ballreich, JOHNS HOPKINS BLOOMBERG SCHOOL OF PUBLIC HEALTH
John Alter, PFIZER
Rich Sullo, FERRING PHARMACEUTICALS
10:30 COFFEE AND NETWORKING BREAK
11:15 UPDATES ON CONGRESSIONAL TESTIMONY AND POLITICAL DEVELOPMENT
Recent congressional testimonies from pharmaceutical industry representatives have put the ongoing analysis into rising drug costs on display, while growing public pressure has compelled lawmakers to intervene on behalf of lowering prices through regulatory action. As the focus of these congressional hearings broaden to include PBMs, pricing professionals wonder how far these testimonies will go and what outcomes to expect. In order for pricing strategists to fully comprehend the current political climate, it is critical to gain first-hand perspective from government officials who will communicate what regulators still need to understand about the pricing process and when to expect legislative attempts to lower costs.
James Kim, Partner, MCDERMOTT WILL & EMORY
12:00 LUNCHEON FOR ALL PARTICIPANTS
1:30 PBM AND MANUFACTURER CONSOLIDATION IMPACT ON PHARMACEUTICAL PRICING MODELS
As pharmaceutical companies and PBM’s seek to minimize risk and leverage negotiations, many have turned to consolidation as a solution. Mergers and acquisitions have been a consistent trend in the industry for many years, but as the rising costs of pharmaceuticals show no sign of slowing down, these partnerships have raised concerns about monopolization and market control. For greater clarity of how these mergers have changed the pharmaceutical pricing landscape, participants will hear from both the manufacturer and PBM perspective about the motives behind an organization’s decision to consolidate, how that merger was handled internally and what industry consolidations are still expected.
John Alter, Vice President Patient & Health Impact Lead, PFIZER
2:15 CASE STUDY: STRATEGIC PRICING FOR INNOVATIVE THERAPEUTIC PRODUCTS
As manufacturers increase the amount of specialty drugs like gene specific therapy within product pipelines, the price of established therapies must rise in order to fund R&D operations. The widening scope of innovative treatments and resulting price increases have contributed to public pressure on manufacturers to lower drug costs, leaving some to wonder if the standard model of subsidization is sustainable. One-time curative treatments like gene therapy and patient-specific pharmaceuticals offer lifesaving medical care, but could quickly alter the process in which drug prices are negotiated. To gain insight into how these changes could come about and how established pricing models can be preserved, it is imperative that pricing professionals understand how the cost of two potentially disruptive medical technologies could modify pricing models down the line.
PART ONE: INNOVATIVE PRICING TACTICS FOR GENE THERAPY
- Overview of available communication tools
- Limited incorporation of clinical trials
- Restructuring of existing price apparatus
Jeromie Ballreich, Director of the Masters in Health Economics & Outcomes Research
JOHNS HOPKINS BLOOMBERG SCHOOL OF PUBLIC HEALTH
3:00 COFFEE AND NETWORKING BREAK
3:15 PART TWO: INDUSTRY IMPACT OF SPECIALTY DRUG PRICING
- Subsidization of research and development
- Balancing unusually high cost with demand
- Development of sustainable pricing models
Joseph Fuhr, Professor, WIDENER UNIVERSITY
4:00 END OF CONFERENCE