Mr Catchpole will tell delegates that the ABPI and industry stand poised to work with the Government with the shared aim of increasing patient access to innovative new medicines but that in order for it to be workable, we need a single system that covers new medicines launched after 1 January 2014 and those already on the market.
He will say that the UK is unique among western nations in the structure of both its national health service and its medicines reimbursement system which has evolved to ensure it remains contemporary and addresses the changing needs of Government and industry.
But he will add a note of caution, stressing that:
Value-based pricing (VBP) alone will not increase medicines uptake – that will require a more holistic scheme where the value is released because the right patients get access to and use the medicines;
For the first few years, VBP will only apply to about 5% of medicines, which means that there must be a single, workable system that encompasses all medicines; and,
Innovation must be recognised and fairly rewarded if the system is to work for everyone.
Mr Catchpole will say that in order to incentivise innovation, a better understanding of how pharmaceutical innovation works is needed. He will say:
Innovation unfolds over decades;
Medicines often end up treating conditions for which they were not originally conceived; and,
New mechanisms of action may initially appear to offer only small benefits but ultimately go on to influence the creation of new classes of therapeutics that replace all previous treatment.
He will tell the ABPI conference that industry is optimistic, VBP is an opportunity, but it is not without risks and challenges, which cannot be ignored.
Paul Catchpole is speaking at the ABPI Annual Conference at Lancaster London, Lancaster Terrace W2 2TY at 15:30 on Wednesday 25 May.
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About the ABPI
We represent innovative research-based biopharmaceutical companies, both large and small, leading an exciting new era of biosciences in the UK.
Our industry, a major contributor to the economy of the UK, brings life-saving and life-enhancing medicines to patients. Our members supply 90 per cent of all medicines used by the NHS, and are researching and developing 90 per cent of the current medicines pipeline, ensuring that the UK remains at the forefront of helping patients prevent and overcome diseases.
We are the Government recognised body negotiating the pricing of branded medicines on behalf of the entire industry. Working with our Research Affiliate Members, we promote the UK as a destination of choice for international life sciences investment.