Medicines 'are Worth it', Debate Concludes

By Pharmatimes, PRNE
Sunday, October 10, 2010

LONDON, October 11, 2010 - Healthcare executives from around the UK voiced strong support for the
economic value of medicines to modern society at the 18th annual PharmaTimes
Great Oxford debate last week.

A large majority agreed with the motion 'This house believes that
medicines deliver net savings to the nation', while 69 voted against it,
following a lively debate in the world famous Oxford Union debating chamber
which saw convincing arguments delivered by both sides.

Proposing the motion, Professor Sir Michael Rawlins, Chairman of the
National Institute for Health and Clinical Excellence, argued that even
allowing for factors such as side-effects and expense medicines deliver
savings in both wealth and health. He listed a catalogue of achievements in
recent history, such as the development of antivirals to help people live
longer with HIV. "We don't need a sophisticated economic model to see that
medicines have delivered massive savings," he stressed.

Sir Michael was seconded by Martin Mackay, President of Global Research
at AstraZeneca, and supported by Sir Alasdair Breckenridge, Chairman of the
Medicines and Healthcare products Regulatory Agency.

Mackay pointed out that the increase in life expectancy from 1970-2000
alone has doubled GDP in the US, which he said can largely be attributed to
medicines, while Sir Alasdair discussed the advent of personalised medicines
that will help to further boost the efficacy and cost-effectiveness of new
therapies.

Benefits questionable

Opposing the motion, Lord Norman Warner, former Minister of State,
Department of Health, conceded medicines have delivered benefits and saved
lives, but added: "This motion is not about past glories, but whether the
right balance is being struck now," arguing that the cost of new medicines is
increasing but their value is shrinking.

Also opposing the motion, Professor Ken Patterson, Chairman of the
Scottish Medicines Consortium, said a quarter of medicines assessed by the
SMC in the last nine years offer no benefit above existing therapies, while
only 9% offered a cost saving. "New medicines are over-hyped, over-sold,
over-priced and frequently do not represent value to the NHS," he argued.

Professor Nick Bosanquet, Head of Health Policy at Imperial College
London, stressed the need for a different way forward with more
accountability for the value of drugs.

Go to www.pharmatimes.com for video highlights of the debate and
to subscribe to next month's PharmaTimes Magazine to read the full report. Or
tweet with us at twitter.com/pharmatimes

For more information, contact the editorial department, PharmaTimes, via
email on editorial@pharmatimes.com or phone +44(0)20-8878-8566

For more information, contact the editorial department, PharmaTimes, via email on editorial at pharmatimes.com or phone +44(0)20-8878-8566

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