A | UNTIL RECENTLY, DRUG PRICING WAS OFTEN OVERLOOKED at development- stage biopharmas. But today, including drug pricing early in the development process must be considered a core competency. This is similar to IP shifting from a legal necessity to a strategic imperative in the early 2000s. Companies needed to integrate it into their strategic framework. Now, the same can be said for drug pricing. With this comes the complexity of the political and governmental landscapes that makes reimbursement hard for all stakeholders. That complexity will require core competencies across many disciplines and understanding all of the private and public drug reimbursement players. Biopharmas need to broaden their definition of “core” or risk getting left behind.
JOSEPH FERRA is CFO of Syros Pharmaceuticals, a company building a pipeline of gene control medicines for cancer and genetic diseases.