USING PHARMACOECONOMIC MODELLING TO DETERMINE VALUE-BASED PRICING FOR NEW MEDICINES

Abstract

Purpose: to carry out pharmacoeconomic modeling for an early economic evaluation of the generic pegylated liposomal doxorubicin (PLD) drug.Materials and methods: a Markov model and Decision tree model were developed to simulate and to compare the costs and effects of new generic PLD versus doxorubicin. Using the threshold criteria for economic value (willingness to pay threshold (WTP) for Russia), we determine value-based pricing for new generic PLD.Results: pharmacoeconomic modeling can be used for an early economic evaluation of new medicines to determine value-based pricing for new pharmaceuticals and its financial impact on Russian health care system.

Keywords

• pharmaсoeсonomics
• pharmaсoeconomic modeling
• markov model
• decision tree model
• pegylated liposomal doxorubicin
• early economic evaluation