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Drug pricing debate: Fasten your seatbelts as there will be no rest for the weary

Drug pricing debate: Fasten your seatbelts as there will be no rest for the weary 

      The debate over drug pricing is not going away as we enter a presidential election year, much as the biopharma industry might hope it will blow over, or that it can “focus the dialogue on value,” or refocus attention (even if justified) on other high-cost elements of health care. In 2015, industry allowed others to define the value of its products (see #2 above). In 2016, it needs to offer something more concrete than talking points and gauzy patient testimonials. Companies hold the keys to the kingdom and we all want them to create better and faster treatments and cures, and we know this work is not for the faint of heart, but this responsibility includes honest discussion. They need to build trust with policymakers, citizens and payers. Experiments with alternative payment models are one way companies are doing that, but more strategies and, frankly, more dialogue are needed. They may need to seek policy changes to enable communicating health outcomes that extend beyond a product’s traditional labeling information.
Precision Medicine Initiative lifts off: To infinity and beyond? 

The planning for the Precision Medicine Initiative, led by the National Institutes of Health (NIH), has proceeded at warp speed since President Obama announced it in January 2015. There seems to be widespread agreement that it has the potential to be a transformative initiative for research, on the scale of the Human Genome Project, which has changed how we think about medicine and science dramatically. The devil, of course, is in the details. Enrollment for the million-person research cohort is set to begin in 2016; can we ensure that it is appropriately representative of Americans from all walks of life, and that trust will be built in the government’s ability to handle sensitive health information? Funding opportunities are on the street, and collaboration and sharing will be required on an unprecedented scale. Two-hundred million dollars has been appropriated for the initiative; is this enough? Can all the stakeholders play nice and lean in to realize the vision?
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