Understanding the Impact of COVID-19 on Pharma Market Trends and Costs

The COVID-19 pandemic is bringing about major changes to the healthcare and pharma industries. Managing Director of BioPharma Futures Mel Walker and Global Market Access Consultant Neil Grubert discuss how payers are modifying their approaches in light of expensive therapies and the major trend of considering healthcare outcomes. They also highlight a common pitfall facing pharma—only considering market access late in drug development.

The authors remark, “In seeking to curb spending, it is easier for governments to target variable costs, such as pharmaceuticals, than to seek savings on fixed costs, such as personnel, infrastructure, and services,” adding, “In this climate, it will be more vital than ever for companies to plan early for an access strategy that aligns the needs of their investors with those of politicians, payers, and, most importantly, patients.” Read more here.

(Source: Neil Grubert and Mel Walker, Pharmaceutical Executive, 8/2021)