BioCentury
ARTICLE | Strategy

Show me the value

How Medicines Co. develops drugs to show both health and economic benefits

March 23, 2015 7:00 AM UTC

At a time when industry is struggling mightily with how to demonstrate the value of its products to payers and patients and translate that value into pricing, The Medicines Co. could provide some lessons. The acute care company has been investing since the early 2000s to understand how customers value medicines, and to develop best practices and technology to demonstrate that value.

Today, the company has integrated these practices into its earliest decisions about what products to develop, and then applies them all the way through to price setting when products reach the market. ...