When are Pharmaceuticals Priced Fairly? An Alternative Risk-Sharing Model for Pharmaceutical Pricing

Health Care Analysis 28 (2):121-136 (2020)

Abstract
The most common solutions to the problem of high pharmaceutical prices have taken the form of regulations, price negotiations, or changes in drug coverage by insurers. These measures for the most part transfer the burden of drug expenditures between pharmaceutical companies and payers or between payers. The aim of this study is to propose an alternative model for the relationship between the main stakeholders involved in the price setting and purchasing of pharmaceuticals, one that encourages a more cooperative approach. We draw from principles of ethics and health economics and apply them to the context of the pharmaceutical industry. The model prioritises two objectives, to make drugs financially accessible to the patients who need them, and to keep pharmaceutical companies viable and profitable. It is centered around the sharing of financial risk between the main stakeholders, which we describe as ‘enlightened risk sharing’. After establishing the foundations of this model, we expand on the type of policies that can follow these principles with current day examples.
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DOI 10.1007/s10728-020-00394-x
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References found in this work BETA

The Corporation as a Moral Person.Peter A. French - 1979 - American Philosophical Quarterly 16 (3):207 - 215.
Priceless Goods: How Should Life-Saving Drugs Be Priced?Ian Maitland - 2002 - Business Ethics Quarterly 12 (4):451-480.
The Right to a Decent Minimum of Health Care.Allen E. Buchanan - 1984 - Philosophy and Public Affairs 13 (1):55-78.
Priceless Goods: How Should Life-Saving Drugs Be Priced?Ian Maitland - 2002 - Business Ethics Quarterly 12 (4):451-480.
On Personal Responsibility and the Human Right to Healthcare.Yvonne Denier - 2005 - Cambridge Quarterly of Healthcare Ethics 14 (2):224-234.

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Ethics, Pricing and the Pharmaceutical Industry.Richard A. Spinello - 1992 - Journal of Business Ethics 11 (8):617 - 626.

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