Creating an economic model normally occurs at Phase III of clinical research. However, if the product does not meet the target price it is too late to alter the trial design. This makes insights from early economic models key for cost effective drug development.
Convincing payers of drug cost-effectiveness is crucial for a profitable product. Predicting any potential pricing or data issues early on allows you to cost-effectively address problems and improve chances of reimbursement.
Using real-life examples, see how PAREXEL helped clients build robust arguments for payer approval. Read this article!