Quintiles health report evaluates risk equation in biopharmaceutical medicine

BENGALURU: The new health report for 2012 by Quintiles, the world’s leading biopharmaceutical services company, calls for better risk/value decisions for an effective healthcare delivery system.

The need for better metrics to assess risks and benefits accurately for all stakeholders, and consensus within the biopharma industry was important for stakeholders to understand dramatic changes occurring within drug development and commercialisation.

The report surveyed more than 1,350 US and UK based biopharmaceutical executives, executives from payer organizations, life-science investors and patients being treated for a chronic illness. These stakeholders have different perceptions regarding risk and benefits. The report reveals that more than half of US payers, National Health Service (NHS) executives and investors agree for more risk while 65 per cent of biopharmaceutical company executives believe that they should either reduce or maintain their risk profile. “Biopharma must find a way to work with a stakeholder that is better versed in risk/benefit tools and methods,” said John Doyle, vice president and managing director with consulting at Quintiles.

While 72 percent of US patients were willing to take potentially risky medication if it was their only chance to improve their health, despite it not being approved; 81 per cent shared this sentiment in the UK.