Novartis’ Narasimhan calls for value-based pricing--and access
Novartis CEO Vas Narasimhan’s views on pricing, value and price-control legislation
Novartis CEO Vas Narasimhan believes drug prices and access should be based on value. He’s in favor of the use of cost-effectiveness assessments to justify drug prices -- which creates winners and losers -- and is staking his ground in confidence that Novartis can produce best-in-class medicines that would be rewarded.
BioCentury sat down with Narasimhan for a broad-ranging discussion on the state of biopharma and his outlook. In the first of a three-part series from that conversation, the biopharma executive shares his perspectives on drug pricing and other policy issues. Over the coming weeks, BioCentury will publish his comments on innovation, reimbursement and his company strategy.
Endorsement of value assessments based, in part, on quality adjusted life years (QALYs), including those conducted by the Institute for Clinical and Economic Review (ICER), is one of several areas where Narasimhan’s views depart from those of his peers who head global biopharmaceutical companies.
Narasimhan’s comfort in discussing detailed aspects of public policy, science and business reflects his experience.
Prior to his appointment as CEO in 2018, Narasimhan served in a number of leadership roles at Novartis AG (NYSE:NVS; SIX:NOVN), including Global Head of