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2019-01-14

Accord and other leading voices in the pharmaceutical and financial industry debate how to drive consistent and long-term growth

In November 2018, at the House of Lords, Accord partnered Generics bulletin to bring influential industry experts together at an intimate roundtable to talk about how pharma companies should drive consistent and long-term growth.

At Accord, it provided a timely reflection on what is required to take our company forward and pivot towards more differentiated medicine. It is crucial, now more than ever, to add value, both in thinking about the healthcare system and the patient.  We should never forget that patients should be at the centre of everything we do.

Generics are very important for making sure that healthcare is affordable, but medicine and science are rapidly developing, and we need to adapt to meet the growing needs of biologic medicines.

Biologics have provided incredible benefits for millions of patients but have caused a challenge for struggling healthcare budgets to afford them.

In the UK, the value of biosimilar is well-understood and prescribing is common, but this acceptance is not mirrored across Europe and the rest of the world. This is due to disparities in therapeutic interchangeability regulations, price and tendering negotiations, and the education of healthcare professionals.

Furthermore, manufacturers of biosimilars face an increasing challenge to differentiate products in the market place. Often faced with competing against a tried and trusted originator blockbuster and given the absence of typical 50% to 70% generic price reductions, it is critical to offer a differentiated value proposition.

Whilst we all had very different experiences and perspectives that made for a lively debate, there were many important areas of consensus. It is clear that biosimilar manufacturers are navigating new and complex challenges including changing value expectations and will require new strategic planning models. To move forward, we need to build upon the models that have led to success in the past and evolve them to deliver a differentiated value that will help us bring the medicines of tomorrow to the patients of today.

Click here to read the report containing highlights from some of the senior voices in the pharmaceutical and financial industry

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