The PhRMA Foundation and the Personalized Medicine Coalition (PMC) have announced that Adrian Towse, MA, MPhil, Director of the United Kingdom’s Office of Health Economics (OHE) and Lou Garrison, PhD, OHE Senior Visiting Fellow and Emeritus Professor at the University of Washington School of Pharmacy, are joint recipients of the first prize of the 2018 Value Assessment Challenge Awards designed to encourage innovative approaches in defining and measuring value in health care.
In their winning paper, “A Strategy to Support the Efficient Development and Use of innovations in Personalized and Precision Medicine,” Garrison and Towse call for a broadening of the concepts of value in personalized/precision medicine, laying out six basic policy principles as pathways to help determine value. These range from the need for flexible, value-based pricing to real-world evidence generation in personalized/precision medicine.
“Lou and I are really pleased and honored to receive this award,” Mr. Towse said. “Our proposed strategy weaves together various threads of our joint research over the past ten years—much of it in collaboration with others in our field. We recognize the new challenges for health technology assessment in precision medicine and call for a greater focus on ensuring genuine value creation is rewarded appropriately to support optimal rates of long-term innovation.”
Recipients of Challenge Awards will be acknowledged during PMC’s 14th Annual Personalized Medicine Conference at Harvard Medical School on Thursday, November 15th.
