Uncertainty of Government Pricing Policies, Evolution of PBMs, and 340B Program Expansion Identified as Top External Challenges for Pharma Pricing & Contracting Teams This Year
While the Short-term Impact of COVID-19 Remains Limited Within Pricing & Contracting, a Shift in Medicaid Enrollment Could Create Modeling Challenges, According to the New TGaS Report from Trinity Life Sciences
WALTHAM, Mass.–(BUSINESS WIRE)–Trinity Life Sciences, a leader in global life sciences commercialization solutions, is sharing findings from its latest TGaS annual Landscape report entitled, “2021 Trends & Considerations in Contract Management: Responding to Pricing Pressures in an Uncertain Environment.” The report, based on biopharma companies in varying stages of development, finds that uncertainty of government pricing policies, evolution of pharmacy benefit managers (PBMs) and 340B Program* expansion are the top challenges for contracting teams at biopharma companies this year.
“Trump’s Executive Orders, materialized in Most Favored Nation and Safe Harbor Rebate Protection removal final rules at the end of 2020, are clearly on top of everyone’s mind,” said Dmitry Kublanov, VP of Pricing, Analytics and Contracting at TGaS, a division of Trinity. “Specifically, people are concerned about the uncertainty around implementation timelines, operational aspects, and overall legitimacy of this legislation.”
We are tracking potential changes to contracting business processes, strategies, and terms & conditions,” continued Mr. Kublanov. “The most noticeable external impact of COVID on Pricing & Contracting teams is the possible shift in Medicaid enrollment resulting from job losses caused by the pandemic; modeling this impact over the next year may be challenging.”
“2021 Trends & Considerations in Contract Management” also covers:
- Key Issues and Trends
- Budgets and Resources
- Contracting Strategies, including Value Based Contracting
- Technology & Systems, including Artificial Intelligence and Machine Learning
With a roster of large, emerging and precommercial life sciences companies, TGaS Advisors, a division of Trinity, provides robust comparative intelligence and collaborative network membership services.
Media interested in receiving a copy of the report should contact Elizabeth Marshall at EMarshall@trinitylifesciences.com.
*The 340B Drug Pricing Program is a US federal program that requires pharmaceutical companies to give steep discounts to hospitals and clinics that serve high volumes of low-income patients.
About Trinity Life Sciences
Trinity Life Sciences is a trusted strategic commercialization partner, providing evidence-based solutions for the life sciences. With over 20 years of experience, Trinity is committed to solving clients’ most challenging problems through exceptional levels of service, powerful tools, and data-driven insights. Trinity’s range of products and solutions includes industry-leading benchmarking solutions, powered by TGaS Advisors. To learn more about how Trinity is elevating life sciences and driving evidence to action, visit trinitylifesciences.com.
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