Results for tag: "Value Based Pricing"

Value Based Pricing (VBP) is a pricing strategy used in the pharmaceutical industry to set prices for drugs based on the value they provide to patients and healthcare systems. It is a form of pharmacoeconomics, which is the study of the cost-effectiveness of drugs and other medical interventions. VBP takes into account the cost of the drug, its efficacy, and the impact it has on patient outcomes. It also considers the cost of alternative treatments and the cost of not treating the condition. This pricing strategy is used to ensure that drugs are priced in a way that is fair to both the patient and the healthcare system. Companies in the VBP market include AbbVie, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, GlaxoSmithKline, Merck, Novartis, Pfizer, and Sanofi. Show Less Read more