Transformational value – preparing for a decade of radical change
The pharmaceutical industry is at an inflection point, where ground-breaking innovation must be translated into transformational value for patients, healthcare professionals and society. Transformational value exists at the nexus of scientific innovation, patient-centricity, regulatory and reimbursement reform, digital technology and affordability, and refers, in part, to the extraordinary advances in science seen in recent years. It also importantly incorporates the need to deliver recognisable and evidenced value to all stakeholders, so that these advances become affordable and sustainable therapeutic solutions for patients. The Transformational Value: Preparing for a Decade of Radical Change white paper from the Adelphi Group sets out the key tenets of the concept and the opportunity for pharma to take a big picture view of ‘transformational value’ and how to respond to it. Exploring themes of pharma disruption, value evidence and future industry needs, the publication includes leading-edge thinking from senior executives at companies such as Novartis and Roche. They discuss how early transformational advances in oncology and hepatitis C are just the beginning, but already changing how companies approach concepts of evidence, reimbursement and access – with longer-term implications that are expected to be broader still. Meeting these challenges head-on needs new frameworks and a wide-ranging programme of internal transformations. They will require a new spirit of collaboration with all healthcare stakeholders and a commitment to respond at speed when making the case for a new therapy. The white paper will look at the promise for the pharmaceutical industry as it strives for transformational value and will examine the dynamic drivers that companies must address in order to maximise this opportunity. The publication will also preview some of the themes that will be discussed at the next in Adelphi’s long-running Renaissance Forum series, which provides a platform for senior decision makers to trade knowledge.
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