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Ansgar Hebborn, Head of the Global Payer & HTA Program Policy at F Hoffmann-La Roche, joins Tim Haïdar from Pharma IQ, to analyse major trends and implications for the research-based pharmaceutical industry. Firstly he sums up who decides on what constitutes value in the various countries, before discussing how we can align diverging evidentiary standards and expectations of different stakeholders in Europe and beyond. He also talks about the new German attempt to implement its version of "value-based pricing" and how this compares to VB progress in the UK. Finally, he comments on whether we need relative efficacy/ effectiveness assessments, whether there is truly a central role for EMA and if harmonisation of HTA is worth pursuing.