Pharmaceutical Executive
The Australian government has an unusual plan for reducing prescription drug costs: enlist the help of pharma sales reps to explain the country's pharmaceutical benefits scheme (PBS) prescribing requirements to doctors.
The Australian government has an unusual plan for reducing prescription drug costs: enlist the help of pharma sales reps to explain the country's pharmaceutical benefits scheme (PBS) prescribing requirements to doctors.
The PBS has subsidized drug prices for more than 50 years, but medication costs have escalated recently, partly as a result of inappropriate prescribing. The Australian Pharmaceutical Manufac-turers Association (APMA) proposed the idea because it believes its representatives are well placed to explain the restric-tions the PBS places on their company's products. The government also announced several other measures aimed at reducing PBS expenditures by a total of A$1.9 billion during the next four years.
One measure increases the amount patients must pay for each prescription by A$1 for concessional cardholders to A$6.20 for general patients. That measure alone may save A$1.1 billion over the four-year period. Yet, APMA slammed the initiative, claiming it will put essential medicines out of many patients' reach. Its research shows, in fact, that much of the savings will come from patients' inability to afford their prescriptions. (See "Total Savings to Government.")
Total Savings to Government
APMA is also unhappy about the government's agreement with generics manufacturers, which will make doctors' automatic prescribing systems default to the generic version unless the doctor overrides it. In return, generics manufacturers will reduce prices.
Young & Partners Pharmaceutical Executive Summit 2024: Brave New World – Where Are We Heading?
October 23rd 2024Peter Marks, director, Center for Biologics Evaluation and Research, FDA, presented the keynote presentation on the future of gene therapy as part of the 20th Annual Young & Partners Pharmaceutical Executive Summit held at the Yale Club of New York.
The Transformative Role of Medical Information in Customer Engagement
October 3rd 2024Stacey Fung, Head of Global Medical Information at Gilead Lifesciences, delves into the evolving role of Medical Information (MI) in the pharmaceutical industry. Covering key topics like patient engagement through omnichannel strategies, combating misinformation, and leveraging AI to enhance medical inquiries, the conversation with Stacey highlights MI's critical role in ensuring patient safety and supporting drug development. She also shares her professional journey and tidbits for early career professionals on professional development.
Unlocking value and cost savings in patient services with technology and talent
October 2nd 2024Traci Miller, Director, Sonexus™ Access and Patient Support, Cardinal Health, discusses the current digital trends in the patient services industry and how the optimal balance of technology and talent can transform manufacturer-sponsored patient support programs. Hear how Cardinal Health combines best-in-class program and pharmacy operations with smart digital tools to ensure product and patient success and reduce operational costs.