Alternative policies for pricing novel vaccines and drug therapies for COVID-19
- Collection:
- Health Policy and Services Research
- Author(s):
- Emond, Sarah K., author Pearson, Steven D., author
- Contributor(s):
- Institute for Clinical and Economic Review, issuing body.
- Publication:
- [Boston, Massachusetts] : Institute for Clinical and Economic Review, July 1, 2020
- Language(s):
- English
- Format:
- Text
- Subject(s):
- COVID-19 -- drug therapy COVID-19 Vaccines -- economics United States
- Genre(s):
- Technical Report
- Abstract:
- The COVID-19 global pandemic has changed the way we live and work, while putting the conversation about the limits of our existing health care resources at the top of policymakers’ agenda. Leaders in government, business, and society all seek to adopt policies that will spur the development of treatments and preventive therapies such as vaccines that can be delivered as rapidly as possible in an affordable and equitable manner. The choices among policy options to achieve these goals present profound scientific, ethical, and political questions. Is the power of government best exercised by funding research with private partners and then stepping back to let the free market determine pricing and distribution? Should the government instead take control of the development and distribution process in its entirety? Or is it best to adopt a hybrid approach in which government takes some role in regulating intellectual property, pricing, and distribution? Ultimately, policymakers must determine who will own the treatments that society needs, and how much they will cost. These questions are not new, but in the exceptional circumstances of the coronavirus pandemic their answers will guide decisions in the coming months that will have enormous short and long-term consequences for the United States and the rest of the world. This report provides a brief overview of approaches to manage the pricing of preventive therapies such as novel vaccines, and treatments in times of public health emergencies. Starting with a summary of experience and lessons learned from previous epidemics and the annual flu vaccine, we will then analyze the potential advantages and disadvantages of alternative policy options. Each option takes a different approach toward the role of government and the private market, with pricing being one element in a broader policy platform. This report is intended as a short introductory overview to inform public and policymaker discussion regarding the best way to harness public and private efforts to achieve rapid, equitable, and affordable treatment for COVID-19 in the US.
- Copyright:
- Reproduced with permission of the copyright holder. Further use of the material is subject to CC BY license. (More information)
- Extent:
- 1 online resource (1 PDF file (13 pages))
- NLM Unique ID:
- 9918401086806676 (See catalog record)
- Permanent Link:
- http://resource.nlm.nih.gov/9918401086806676