Pharma Innovators Gather to Think “Beyond the Pill”
21 12월 2013 - 1:12AM
Business Wire
Pharmaceutical companies need to look “beyond the pill” and find
new ways to drive value in the healthcare system. That was the
conclusion of healthcare leaders including executives from six of
the world’s top 20 pharmaceutical companies, gathered this month in
collaboration with the Oliver Wyman Health Innovation Center to
explore the drug industry’s changing role.
“Healthcare payers and providers are increasingly focused on
value—on creating better outcomes with lower costs,” says Jerry
Cacciotti, a partner at Oliver Wyman and one of the organizers of
the event. “But it hasn’t been clear how pharma fits into new
value-based structures. We wanted to get forward-looking pharma
leaders together with innovators from other parts of healthcare to
look for new ways to work together.”
Accessing the value of “pill plus” solutions is critical. Oliver
Wyman research released at the gathering showed that pharma is
currently heavily investing its R&D dollars in niche cancers
and rare disease drugs for complex diseases. “The problem,” says
Cacciotti, “is that the industry would need to bring 1,500 drugs
like that to market in the next 15 years to sustain even 5 percent
growth. That’s five times the rate we’ve been launching new
therapies—it just won’t happen.” Instead, he says, pharma companies
need to find ways to coordinate with value-based healthcare across
the whole spectrum of diseases.
The group, which included representatives from Amgen, Pfizer,
and Novartis, among others, analyzed disease areas such as
congestive heart failure and rheumatoid arthritis, looking for
opportunities for pharma to share in the financial risk of
treatment (through guarantees and other mechanisms), combat the
most expensive aspects of the disease (such as repeated
hospitalizations), and to enable efficient, effective treatment at
the physician level (by addressing burdens of side effects,
compliance issues, and behavioral and social challenges). Oliver
Wyman estimates that pharma companies can derive as much as 50
percent more value with each molecule launched by accessing the
additional value streams. “That goes a long way toward solving the
revenue gap,” says Cacciotti.
“We had physician practices telling us they wanted someone to
take the burden of a disease like multiple sclerosis off their
hands,” he adds. “That is possible, though we’re going to have to
solve many problems of regulation, business design, and
reimbursement.”
The group plans to meet again in 2014 to begin addressing legal
and regulatory issues related to potential new pharma business
designs.
About Oliver Wyman
Oliver Wyman is a global leader in management consulting. With
offices in 50+ cities across 25 countries, Oliver Wyman combines
deep industry knowledge with specialized expertise in strategy,
operations, risk management, and organization transformation. The
firm's 3,000 professionals help clients optimize their business,
improve their operations and risk profile, and accelerate their
organizational performance to seize the most attractive
opportunities. Oliver Wyman is a wholly owned subsidiary of Marsh
& McLennan Companies (NYSE:MMC). For more information, visit
www.oliverwyman.com. Follow Oliver Wyman on Twitter
@OliverWyman.
About the Oliver Wyman Health Innovation Center
Oliver Wyman has recently launched a Healthcare Innovation
Center (OWHIC) dedicated to promoting positive change in
healthcare. OWHIC will champion innovation by disseminating proven
innovations; envisioning market-based solutions to today’s and
tomorrow’s challenges; and establishing a cross-industry community
of thought-leaders to share and shape ideas.
OWHIC is an integral component of Oliver Wyman’s Health &
Life Sciences practice, which serves clients in the pharmaceutical,
biotechnology, medical devices, provider, and payer sectors with
strategic, operational, and organizational advice. Deep healthcare
knowledge and capabilities allow the practice to deliver fact-based
solutions.
For more information on OWHIC, visit
www.oliverwyman.com/healthinnovationcenter.
Oliver WymanPatrick Clinton,
212-345-3013Patrick.Clinton@oliverwyman.com
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