By Suzanne Elvidge, Contributing Writer
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Undoubtedly, one of pharma’s toughest challenges in 2018 — globally — is dealing with the increased pressure from payers and pharmacy benefit managers to keep drug costs down while maintaining innovation and effectiveness. “Payers don’t want to pay for drugs that aren’t precise enough; they need efficiency,” said Ulrica Sehlstedt, partner in Arthur D. Little’s Stockholm office. Arthur D. Little is an international management consulting firm.
Sweden’s approach to meeting this challenge is a focus on precision medicine: ensuring that the right treatment gets to the right patient at the right dose and the right time. SwedenBIO’s report “Precision Medicine — The Swedish Industry Guide 2018,” published in March 2018, maps the efforts going on across the country. “When we realize what the consequences will be of truly personalized medicine, it will be a game changer for physicians, patients, and payers,” said Sehlstedt, a contributor to the report. “It will take a lot to get there, but it will be very exciting.”