||About the Author||Olivier Ethgen is an Associate Professor of Health Economics at the Department of Public Health Sciences, School of Medicine, University of Liège, Belgium. He lectures in health economics (theory and applied modeling),
The pharmaceutical industry faces a well-documented perfect storm: on the one hand, the patent cliff; the lack of new blockbusters and, on the other, economic pressure on pricing from markets with growing expectations and shrinking budgets. In the face of such pressure, traditional health economics models no longer seem appropriate and yet what do we have to replace them? The growing focus on 'value' and 'cost effectiveness' are evidence of new emerging thinking alth...
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