Value Based Drug Development April 21 st, 2015 Moderator: Ellen V. Sigal, PhD Chair & Founder, Friends of Cancer Research 1.

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Presentation transcript:

Value Based Drug Development April 21 st, 2015 Moderator: Ellen V. Sigal, PhD Chair & Founder, Friends of Cancer Research 1

US Spending on Cancer Treatment continues to rise Total costs increased 35% from Prescription drugs are 11.4% of Cancer Treatment Expenditures Drug costs alone rose $8 billion in 10 years, an increase of 500% *Center for Financing, Access, and Cost Trends, AHRQ, Household Component of the Medical Expenditure Panel Survey, 2001 and

US cost of care can vary widely for routine medical procedures, hospital stays, and cancer drugs Prescription Drug costs - 9% of Total US Healthcare Expenditures Gleevec has had a much higher success rate for patients than many other high cost drugs *Data from International Federation of Health Plans 2013 Comparative Price Report 3

Cost Difference for Cancer Patients Receiving Chemotherapy* Patients receiving chemotherapy treatment in a community oncology clinic (COC) had a 20% to 39% lower cost of care, depending on diagnosis, compared with those receiving chemotherapy in the hospital outpatient setting (HOP) *Am J Manag Care. 2015;21(3):e189-e196 4

In Summary National Cancer Care Expenditures continue to rise – Costs for routine procedures and cancer care vary substantially – Patients can end up paying more depending on the treatment center – Great potential to address rising costs for utilization of precision medicine and genetic screening (right drug, to the right patient, at the right time) As we discuss value in drug development, cost issues are at the forefront It is important to determine: 1.What does value mean for patients? 2.How the following key components impact patient access, quality of life, and chance of survival: Cost Trends Advances in Innovation Payment Models 5

Panelists Richard Schilsky, MD – Chief Medical Officer, ASCO Mace Rothenberg, MD – Senior Vice President and Chief Medical Officer, Pfizer Andrea Stern Ferris – President, LUNGevity Louis J. DeGennaro – President, CEO, Leukemia and Lymphoma Society 6