Generic Drugs and Drug Economics M.T. Piascik. OBJECTIVES 1)Review generic drug law. 2)Know the difference between “breakthrough” and “me too” drugs.

Slides:

Advertisements

Similar presentations

1 Help! I Couldnt Get My Prescription Filled: Whats Going On and What Can I Do About It? Health Action 2006 Health Assistance Partnership January 28, 2006.

Advertisements

Will this new prescription work with my other medicines? Are there any side effects? What if I miss a dose? Have questions about your medicines?

Management of Drug Formulary Dimitry Gotlinsky Western University Managed Care Clerkship ProPharma Pharmaceutical Consultants, Inc. 06/16/06.

Pricing (price policy)

Commonwealth Connector Pharmacy Benefits July 12, 2007.

P u t y o u r h e a d o n m y s h o u l d e r.

Workers’ Compensation Drugs Pain killers Muscle relaxants Anti-depressantsAnti-inflamatories.

Reviewing the Canadian Drug Landscape and Generic Pricing Models CGPA CONFERENCE - 26 OCTOBER 2011 François Joseph Poirier Partner Toronto Bay Street.

© South-Western Educational Publishing Chapter 20 Personal Decision Making  Making Better Decisions  Spending Habits.

Should You Launch a Fighter Brand? Kelsey Smith, J.P. Coppersmith.

Pharmacy Program Initiatives Threshold, Mandatory Generic, Maximum Allowable Cost (MAC) Javier Menendez, RPh Pharmacy Manager Department of Medical Assistance.

International Seminar on Drug Advertising Canadian Experience Brazilian Health Surveillance Agency and Pan American Health Organization Brasilia, Brazil.

International Experience in Pharmaceutical Services for Promoting Access to Medicines: Canada, Cuba, England, Mexico International Seminar on the Challenges.

Big Drug Makers See Sales Decline With Their Image By ALEX BERENSON New York Times November 14, 2005

Big Pharma / THE FACTS New Internationalist 362, November 2003.

Making Health Care Decisions B. Lee Green Texas A&M University.

Schedule of Classes September, 3 September, 10 September, 17 – in-class#1 September, 19 – in-class#2 September, 24 – in-class#3 (open books) September,

Elasticity Test Those students who have not completed their elasticity test must do so during the period. When completed, please submit with your name.

The Benefits of Publicly Financed Clinical Drug Trials By Dean Baker Co-Director Center for Economic and Policy Research (CEPR), Washington, D.C. Center.

The Cost Effectiveness of Direct to Consumer Advertising for Prescription Drugs Adam Atherly and Paul H. Rubin Emory University.

Pricing and Reimbursement Policies 1. Pricing Policies Patented Medicines Maximum retail prices capped by Ministry of Economy (mainly for private sector)

Generic Substitution Principles in Practice Copyright © – Academy of Managed Care Pharmacy (AMCP)Slide 1.

TAYLOR MELANSON Providing Prescription Drug Coverage to the Elderly: America’s Experiment with Medicare Part D By Mark Duggan, Patrick Healy, and Fiona.

340B Implementation: An Opportunity for Improved Health Outcomes in Communities Todd D. Sorensen, Pharm.D. Associate Professor University of Minnesota.

Group 2: Laura Nathalia Fransiska Dewi Diah Ayu Lestari Zakky Zamrudi

Principles of Business and Marketing (PBM). Marketing Functions  Product/Service Planning  Purchasing  Financing  Distribution  Pricing  Risk Management.

Universal Coverage… “Pharmaceutical Benefit Management” or “Pharmacy Benefit Management” is the set of rules, controls and enforcement tools that define.

12th Economics Chapter 4 Section 1

Efficiency improvement of primary care prescription by physicians - pharmacists cooperating in quality circles Ruggli M. 1, Nyffeler R. 3, Duay B. 4, Repond.

Universal Pharmacare: Solving Canada’s Drug Problem Pharmacare Forum Windsor Public Library, April 26, 2011 Canadian Health Coalition.

© 2010 South-Western, Cengage Learning Chapter © 2010 South-Western, Cengage Learning Personal Decision Making 20.1Making Better Decisions 20.2Spending.

Patient, health care and pharmaceutical promotion – a critical inventory Hans-Joachim Both Neurologist, member of IPPNW group Berlin mail adress :

The History of Advertising Unit 1. Ad Buzz - Branding (logo) didn’t become common until the late 1800s - Products where sold generically (without a brand)

CIA Annual Meeting LOOKING BACK…focused on the future.

FINANCIAL ISSUES CHAPTER 14. CHAPTER OUTLINE Financial Issues Third-Party Programs – private health insurance – managed care programs – public health.

Road to Financial Maturity Banking & Consumer Smarts.

Objective The aim was to assess purchasing pharmaceuticals in the public health sector in Jordan through the joint procurement for participating parties.

(Fortune, 2002, p. 16).  Competition  Barriers to Entry  Regulation.

Financial Planning. A tool used to achieve financial success based upon the development and implementation of financial goals. On going process for life.

10/14 Aim : Why is budgeting important? Do Now : Necessities & Luxuries Chart.

Chart 1: Social-Media Ad Spending The auto industry will spend approximately $1.2 billion this year on some form of “social media” advertising, or about.

Price Elasticity of Demand. What do you think the relationship is between the price of these goods and services and consumers’ behavior? Prescription.

The 4 P’s of Marketing. 1) PRODUCT (or service)  Essentially entails what you are selling and the benefits derived from it.

Generic Drugs and Drug Economics M.T. Piascik OBI 836 September 6, 2006.

 As you may recall, a product is a good or service for sale in a market. For example, we buy products when we get our haircut or buy food.

Factors the Affect Demand Unit 4.2. More About the Demand Curve Law of Diminishing Marginal Utility – The second item will not give as much satisfaction.

ARRRR! Drug Development and Discovery Access to Essential Medicines De-Cal Fall Week 2.

© SOUTH-WESTERN  12.1 Students understand common terms & concepts and economics reasoning. Standard Address Objectives  Compute the elasticity.

Financial Planning. A tool used to achieve financial success based upon the development and implementation of financial goals. On going process for life.

The Case for a Free Market in Prescription Drugs Dean Baker, Co-director Center for Economic and Policy Research January 16, 2016.

Road to Financial Maturity Banking & Consumer Smarts.

Sunk vs. Bundled Costs & The First & Third Laws of Demand TREATMENT OF TRAVEL EXPENSES BY GOLF COURSE PATRONS Kelsey Conway.

Given the progress that continues to be made in society’s battle against disease, patients are seeking more information about medical problems and potential.

Financial Issues Chapter 14. Financial Issues Financial issues have a substantial influence on health care and pharmacy practice. In 1985 the average.

5-1 © The McGraw-Hill Companies, Inc., 2009 McGraw-Hill/Irwin LO  Cost-Benefit Principle at work  Do something if the marginal benefits are at.

Intellectual Property - Patents, Copyrights, and Other Protectionist Barriers CEPR Basic Economics Seminar Dean Baker November 17, 2005.

Drug Utilization Review & Drug Utilization Evaluation: An Overview

© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 1 Chapter 6 LESSON 6.2 Track Income and Expenses GOALS  Describe how to set up an effective.

Wireless Access SSID: cwag2017

Direct to Consumer Advertising in Prescription Medicine

International Business Jeopardy

Advertising to Target Audiences

Consumer Behavior & Utility Maximization

Public opinion on prescription drugs and their prices

Ag & Resource Economics

Principles of Business and Marketing (PBM)

Pharmaceutical Industry & Consumers

Warm Up – November 26 Answer the following questions on a post-it:

SUBROGATION AND THE OPIOID EPIDEMIC

SUBROGATION AND THE OPIOID EPIDEMIC

Presentation transcript:

Generic Drugs and Drug Economics M.T. Piascik

OBJECTIVES 1)Review generic drug law. 2)Know the difference between “breakthrough” and “me too” drugs. 3) Have an understanding of the economics of prescription drugs.

A REVIEW OF GENERIC DRUG LAW

FORMULARY SUBSTITUTION This is NEW. A pharmacist is presented a prescription, which is Rejected upon adjudication to the patient’s third party insurance NOW the pharmacist may substitute with another drug --if the prescription has “Formulary Substitution” written on it—if the phrase is stamped on it the prescriber must still make an affirmative notation that FS is OK -- in the same class --the substitution must be OK with the third part insurance --the prescriber must be informed in writing within 24 h

FACTORS DETERMINING DRUG PRICING

A BREAKTHROUGH drug is a unique therapeutic entity that opens a new approach to the treatment of a given pathophysiology. The discovery of breakthrough drugs presents the greatest financial risk. A ME TOO drug is a structural analogue, an existing therapeutic entity. Because me too drugs are derived from established drugs the risk associated with their development is not as great as for breakthrough drugs.

WHY ARE PRESCRIPTION DRUGS SO EXPENSIVE? OR “There is gold in them thar pills”

The Cost of Direct to Consumer (DTC) Advertising

PepsiCo spent $125 million advertising its premier product, Pepsi – less than the top promoted drug Vioxx with DTC ad spending of $160 million. Vioxx also beat out Budweiser beer, with an ad spending of $146 million in 2000,and was close to the most heavily advertised car – GM’s Saturn – with ad spending of $169 million in Each of the top seven most heavily advertised drugs beat out Nike’s ad budget of $78.2 million for its top shoes.

OBJECTIVES 1)Review generic drug law. 2)Know the difference between “breakthrough” and “me too” drugs. 3) Have an understanding of the economics of prescription drugs.

What has been the effect of DRC marketing?

A BREAKTHROUGH drug is a unique therapeutic entity that opens a new approach to the treatment of a given pathophysiology. The discovery of breakthrough drugs presents the greatest financial risk A ME TOO drug is a structural analogue, an existing therapeutic entity. Because me too drugs are derived from established drugs the risk associated with their development is not as great as for Breakthrough drugs.