Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I have no idea what the green box says but remember
Disrupters and Derampers hate being ignored!
Follow the DD rule
Let's see how many treatments they buy with those £755M, but yeah sng001 should be less expensive
NHS England issues £755m framework for monoclonal antibodies
https://www.nationalhealthexecutive.com/articles/nhs-england-issues-ps755m-framework-monoclonal-antibodies
I have no concerns about the cost of our SNG drug by comparison with the above it’s far less expensive treatment
This is all a bit academic until we get across the line but when considering value for money, it costs £2k a day for a covid19 patient in hospital... Even NICE will see SNG001 is good value for money!
Hi Peelweight,
Agree all your points. In its early days NICE was quite opaque in its determination of what a ‘fair’ NHS price for a new medicine should be and there was a lot of toing and froing. I recall a new treatment for MS was one example where the final price was agreed via such negotiations (guesswork!).
The ‘value for money’ idea (NICE) hasn’t reached mainland Europe yet, I believe, so those countries may have to be dealt with separately.
Agreed WD. Especially that the UK has, for a long time, been an benchmark used around Europe for price-setting. However other companies use a tool called a “Managed Access Scheme” (MAS) or similar to shield that commercially sensitive information from other countries.
“Pricing the product at a level consistent with securing a positive NICE appraisal may be achieved through the NHS list price proposed, or through a confidential discount or other commercial arrangement agreed with NHS England or other relevant NHS body.”
So a headline price is set. He NHS company then asks he NHS to actually pay less privately. The NHS only cares about what it actually pays and it passes the test NICE sets in value for money (value-based pricing) and the company gets to keep its price confidential internationally.
I know this sounds crazy but it is otherwise almost the only country where there is a single price paid and it is public. Also the medicine is bought in bulk for the whole population if it works for that indication and has no competitor that can offer that care
The MAS may not be needed, I am just trying to fill out the discussion. If the NICE judgement is that £2000 per treatment course is value, no skullduggery is needed. This seems plausible for the hospital P2 indication, if backed up by similar data in P3. However value-based pricing calculations seem much tougher if a weaker signal from HT and Activ2?
All IMO
Peelweight,
You make some good points. And to think I used to think the old PPRS was complicated!
Clearly today’s mantra of ‘affordability’ is driving the current Scheme. No, it’s not the US, but the UK has frequently been a reference country for pricing by other European countries, so may still be important.
I agree that there may well be a way to circumvent this bureaucracy by supplying under a centralised contract (like vaccines) but other than providing some basic input, I think this would be all better left to a JV partner with the experience and infrastructure to take the product further once approved.
The great paradox is that the country with the greatest buying power, the US, also has the highest prices! The trade-off is that they invariably get the latest / newest drugs first.
Money talks.
;-)
Take over coming IMO and I’d suggest July time.
DYOR.
Thanks WD. This represents the change from the previous PPRS (pharmaceutical price regulation scheme) to the current system that is a form of value based pricing. Basically, as I understand it, some of the elements of PPRS continue to be in place, rewarding all the spent money getting the new drug to market etc. However the value--based pricing element says that if NICE would not give you a positive finding at that price you can't charge it. It makes the way forward more complex in the UK but does not have any impact in the US or elsewhere.
Still worth pursuing the UK and Synairgen will certainly be doing so as we are a country that treats everyone, not just the affluent. Once registered, the system looks manageable. And remember COVID has chucked out the previous "rule-books" in many many regards. Vaccine approval in 11 months not average 10 years. That needed expedited ethics/funding/trials/approvals. A whole new world, so a lot of latitude would be granted for a useful therapeutic in many jurisdictions IMO, including the UK
Since this topic applies to SNG001 should it gain marketing authorisation, those who have an interest (or who have trouble sleeping) may care to read the current regulations revised a couple of years ago.
Page 45 relates to new branded medicines
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/761834/voluntary-scheme-for-branded-medicines-pricing-and-access-chapters-and-glossary.pdf
It should become pretty clear, on reading this, that Synairgen would be completely unable to comply (not least because they are not a member of the scheme) but also as they have no infrastructure to undertake the scheme’s requirements.
A JV or takeover is essential.
And that’s just the UK....every other country has its own national healthcare system.
There are no shortcuts, imho.