BRIEF—ICER plans to evaluate validity of price hikes on Rx drugs

The USA’s Institute for Clinical and Economic Review (ICER) on Wednesday announced the formation of an advisory group to guide the development of a report on US drug price increases that are unsupported by clinical evidence.

The ICER plans to issue its initial annual report on unsupported price increases during the first quarter of 2019.

“The federal government has expressed concern about drug price increases, and several states have already passed laws that will generate lists of drugs with substantial price increases so that policy makers and the public can seek greater transparency,” said Steven Pearson, president of the ICER.

“Our value-based price benchmarks on new drugs are being used by the pharmaceutical and insurance industries to develop pricing and coverage policies that reflect the evidence on how well drugs actually improve patient outcomes. By applying an evidence-based approach to price increases for older drugs, we hope to further safeguard patients’ ability to afford and access high-value health care,” Dr Pearson added.

To develop the methodology that will guide these forthcoming reports, the ICER has assembled a multi-stakeholder advisory committee comprising experts and which includes two pharma industry representatives, namely: Andreas Kuznik, senior director, health economics and outcomes research at Regeneron Pharmaceuticals; and Susan Shiff, senior vice president and head of the Center for Observational and Real World Evidence and Merck & Co.