/EINPresswire.com/ -- TORONTO, ON--(Marketwired - September 12, 2017) - In a complementary Xtalks webinar scheduled for Friday, September 22, 2017 at 11am EDT (4pm BSK/UK), industry experts Guy Sherwin, Lead Consultant of EU Pricing and Market Access, Commercialization and Outcomes at ICON and Michael Pace, MBA, Senior Principal of Pricing and Market Access, Commercialization and Outcomes at ICON will discuss how to get a deeper understanding of the changing contracting landscape and how to learn ways to leverage new and innovative approaches to improve the commercial success of your biopharmaceutical products.

Key Insights

• Learn why traditional contracting approaches may not be enough to address the needs of both payers and pharma manufacturers
• Hear about current trends and anticipated innovations, including the use of outcomes-based agreements
• Get insights on the key contracting issues you should be considering today to optimize the commercial success of your products.

Overview

Launching a new drug often requires a compromise between the manufacturer and payer's objectives and priorities. While ensuring patient access to new drugs is an objective for both parties, payers also need to make certain that new therapies comply with budgetary constraints and that any associated risks of uncertainty are minimised. In this context, contracting represents mutually valuable agreements that address the needs of both the manufacturer and the payer.

Traditional contracting agreements have focused purely on price negotiations. These simple agreements such as, price discounting/rebates, caps and free goods, in themselves are not novel; however, their combination or inclusion in the context of a more complex agreement can be considered in the design of innovative contracting agreements.

When designing a contract, the aim is to find a cohesive solution that meets the needs of the payer while still achieving manufacturer objectives. Sometimes, "traditional" contracting is not sufficient to achieve this compromise, necessitating the adoption of more advanced, and sometimes complex, innovative contracting agreements.

Broadly speaking, innovative contracts can be classified as:

• Outcomes-based agreements: linking the product's clinical outcomes with price and/or access
• Financially-based agreements: employing novel financial mechanisms to manage risk and uncertainty
• Value added services: leveraging technology and broader offerings to support product price and/or access, as a stand-alone agreement or more often in combination with outcomes- or financially-based agreement

Perceptions of innovative contracting and the use of outcomes-based agreements vary across markets. In Italy, where infrastructure for data collection is broadly available, payers are accustomed to outcomes-based contracts. In the US, outcomes-based contracting has been less common -- though it is gaining traction and expected to play an increasing role in the future.

To learn more information about this complementary event visit: Outcomes-Based Agreements and Innovative Contracting for Biopharmaceuticals: Where Is The Market Moving?

ABOUT XTALKS

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