Beset by high prices and scientific complexity, how can marketers best communicate the value of specialty drugs?
Providing financial assistance to patients has become a common refrain in drugmakers' defense of high-priced drugs.
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The formula's pretty simple: Be sure you can defend your drug's value proposition, without blushing, says BioPharma Alliance's Mike Luby.
The partnership was created to help pharma marketers better target their TV and digital video buys.
Shire offers to buy Baxalta for $30 billion; CVS reports strong sales in specialty pharmacy; Reuters reports that new drug launches hit 17-year high in 2014
Americans spent 13.1% more on prescription medications in 2014 than they did in 2013, but recent launches indicate competition in the specialty drug space is going to heat up.
CVS health execs write that cost of long-term specialty medications, not short-timers like Sovaldi, are a major worry.
The IMS Institute for Healthcare Informatics notes that developed markets remain a key driver.
Solutions for how to handle specialty medication costs are lacking, but the data around them shows a need for serious problem-solving.
The numbers folks at the Centers for Medicare and Medicaid Services anticipate sluggish growth in US healthcare spend, but prescriptions look ready to take off.
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Researchers argue it makes economic sense to employ Value-Based Insurance Design plans for costly specialty medications.
Patients will now be able to submit specialty prescriptions at the national chain's retail stores.
The latest IMS Institute for Healthcare Informatics assessment of 2013's prescription drug use shows that 2.3% of prescriptions account for 30% of a patient's out-of-pocket prescription costs.
Express Scripts said treatments for diabetes are the most expensive of the traditional medications, while specialty drugs are eating up a significant portion of total drug spend.
The drugmaker, hitherto known for its generic expertise, says the purchase could mean that half its future revenue will come from branded, specialty drugs.
The third Pharmacy Benefit Management Institute specialty medication survey expects specialty medications, which average around $3,000 per month per patient, will account for 50% of the drug spend within four or five years.
If the HCV drug's trajectory continues, it could exceed Q1 and 2014 sales forecasts, despite payers' reported unease over price.
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The PBM encourages step-therapy to control costs.
The patient population is small, at around 3,000, but the expected price tag is $330,000 a year.
The catch is the difference between sales and revenues. Generics will continue to be a force, and small-audience drugs will become increasingly important.
Dudnyk bought San Francisco-based Stratagem, expanding its West Coast presence and adding medical-device marketing expertise, the agency said.
The promotion of Ane Jones to president is the latest management change at the Omnicom specialty agency and its bigger sibling, Harrison & Star.
Specialty biopharma firms are using razor-sharp therapeutic focus to target "niche buster" categories.
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