We commit to providing clear rationale for pricing at the time of launch of a new medicine.
When we set the price of a new medicine, we hold ourselves to a rigorous and structured process that includes consultation with external stakeholders and considers the following factors:
A holistic assessment of value, including: 1) Clinical value and outcomes, or the benefit the medicine delivers to patients, and how well it works compared to a standard of care; 2) Economic value, or how the medicine reduces the need—and therefore costs—of other healthcare interventions; and 3) Social value, or how the medicine contributes to quality of life, and productivity. Our assessments rely on a range of internal and external methodologies, including health technology assessment (HTA) and other analyses that help define or quantify value and include patient perspectives and priorities.
Similar treatment options available or anticipated at the time of launch, in order to understand the landscape within the disease areas in which the medicine may be used.
Affordability, including the steps we must take to promote access for patients and contribute to a more sustainable system for payors and healthcare systems.
Unique factors specific to the medicine at the time of launch. For example, we may need to support ongoing clinical trials to reinforce the value of the product (e.g., longer-term outcomes studies), implement important regulatory commitments, or develop sophisticated patient support tools that improve care management and help decrease the total cost of care.