PhRMA Releases New Policy Solutions for Delivering Innovative Treatments to Patients

During the Pharmaceutical Research and Manufacturers of America (PhRMA) 2016 Annual Meeting on March 10, 2016, PhRMA president and CEO Stephen J. Ubl announced the association’s policy solutions for delivering innovative treatments to patients. The organization said in a press announcement the proposals in the policy framework are aimed at modernizing the drug discovery and development process, promoting value-driven healthcare, engaging and empowering consumers, and addressing market distortions.

“We need to improve on the competitive market to build a sustainable health care system that stems the growth of chronic disease and fosters the development of tomorrow’s cures,” Ubl said in a press announcement.

PhRMA’s new policy solutions include:

• Modernizing the drug discovery and development process. PhRMA says, pro-patient, pro-science, pro-market reforms at FDA would enhance the competitive market for biopharmaceuticals, drive greater efficiency in drug development and discovery, and help hold down costs for payers and consumers.

• Promoting value-driven healthcare. The organization asserts that payers face challenges in paying for the value of prescription medicines because regulatory barriers impede open communication by manufacturers, predictability regarding the biopharmaceutical pipeline, and innovative contracting.

• Engaging and empowering consumers. PhRMA says more information should be available to the public on healthcare out-of-pocket costs and quality available to patients. In addition, vulnerable patients should have the protection of enforceable, common sense rules that prevent discrimination and remove barriers to access.

• Addressing market distortions. The organization says more can be done to help the market work better than it has been. Addressing distortions in the market-such as the rapidly growing 340B program, or the risk adjuster for commercial insurance that does not account for prescription drug costs-would help preserve the safety net, revive the healthcare market, and improve affordable access to medicines for patients.

Source: PhRMA