The welfare effects of innovative pharmaceuticals: an international perspective from the Dutch experience |
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| Authors: | Apostolos Tsiachristas† Wim Groot |
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| Institution: | 1. Institute for Medical Technology Assessment, Erasmus University Rotterdam , PO Box 1738, 3000 DR, Rotterdam, The Netherlands;2. Department of Health , Medicine and Life Sciences, Maastricht University , PO Box 616, 6200 MD, Maastricht, The Netherlands;3. Department of Economics , ‘Scholar’ Research Center for Education and Labor Market, University of Amsterdam , Roetersstraat 11, 1018 WB Amsterdam, The Netherlands |
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| Abstract: | Policy discussions on new medicines are often focused on cost containment rather than on the benefits they produce, such as health gains and cost savings in other sectors. In this study, we identify systematic differences in policies towards pharmaceuticals between countries and calculate the welfare gains of 39 innovative pharmaceuticals introduced in the Dutch market after 1997. Welfare gains are defined as the difference between the value of a QALY gained by innovative pharmaceuticals and their costs. The review shows that there are systematic differences among pharmaceutical policies and regulations between countries. It is further found that the welfare gains of pharmaceuticals are substantial and amount to €77 per capita per year in the Netherlands. The welfare gains could be higher if institutional barriers for an efficient utilization of innovative pharmaceuticals are removed. |
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| Keywords: | innovative pharmaceuticals welfare effects economic evaluation pharmaceutical policy |
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