Next Article in Journal
The Impact of Potassium Channel Gene Polymorphisms on Antiepileptic Drug Responsiveness in Arab Patients with Epilepsy
Previous Article in Journal
Patient and Provider Perspectives on a Decision Aid for Familial Hypercholesterolemia
Article Menu
Issue 4 (December) cover image

Export Article

Open AccessReview
J. Pers. Med. 2018, 8(4), 36; https://doi.org/10.3390/jpm8040036

Impact of Precision Medicine on Drug Repositioning and Pricing: A Too Small to Thrive Crisis

1
Department of Biological Sciences, Tennessee State University, 3500 John A Merritt Blvd, Nashville, TN 37209, USA
2
Department of Pharmacology, Vanderbilt University, Nashville, TN 37235, USA
Received: 29 October 2018 / Accepted: 31 October 2018 / Published: 5 November 2018
Full-Text   |   PDF [758 KB, uploaded 5 November 2018]   |  

Abstract

The pricing of targeted medicines continues to be a major area of contention in healthcare economics. This issue is further complicated by redefining the role of molecular testing in precision medicine. Currently, whilst pricing of clinical laboratory diagnostics is cost-based, drug pricing is value-based. The pricing for molecular testing is under pressure to change the traditional business model, for it has a critical subsidiary role in determining the final value of targeted medicines. The market size for drugs is reduced by molecular testing when patients with the same disease are stratified based on their genetics, it is critical to determine the value of this new enhanced drug specificity to realize its full pricing potential. However, these value-based pricing strategies require a careful understanding of changing market conditions, especially, in the context of stratified patient segments made possible by precision medicine. In this article, we discuss the various factors impacting pricing decisions, and consider evolving economic trends in precision medicine. View Full-Text
Keywords: precision medicine; value-based pricing; drug repositioning; differential value; cost efficiency; healthcare precision medicine; value-based pricing; drug repositioning; differential value; cost efficiency; healthcare
Figures

Figure 1

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
SciFeed

Share & Cite This Article

MDPI and ACS Style

Tiriveedhi, V. Impact of Precision Medicine on Drug Repositioning and Pricing: A Too Small to Thrive Crisis. J. Pers. Med. 2018, 8, 36.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
J. Pers. Med. EISSN 2075-4426 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top