On August 6, 2018, the ARM Foundation for Cell and Gene Medicine released a first-of-its-kind Health Economic Impact Landscape Analysis of regenerative medicine advanced therapy.
The analysis includes a comprehensive review of published academic literature, health technology assessments, and value frameworks related to the global health economic impact of cell and gene therapies. Performed by IQVIA on behalf of the ARM Foundation Economic Impact Working Group, the landscape analysis is the initial step in the Foundation's broader Economic Impact Project, which will ultimately provide a framework to measure and forecast the effect that breakthrough and potentially curative therapies will have on national and global health care economies.
David S. Smith, of counsel in Pepper Hamilton's Health Sciences Department and co-chair of the ARM Foundation's Economic Impact Steering Committee, said:
"It is critical to have better tools for assessing economic value. The increasing availability of safe and effective cell and gene therapies will offer potential benefits and outcomes that in aggregate could profoundly impact the overall cost of care for a given disease or family of diseases. Therefore, more comprehensive macroeconomic models that include additional value inputs, such as indirect patient and caregiver costs, and that look at cost-effectiveness over lifetime horizons should be built to better quantify that impact to support development and application of these therapies."