Public Good Pharma - 3x3x3 Challenge with Savva Kerdemelidis
Public Good Pharma is a biotech company that sponsors self-funding interventional pharmacoeconomic clinical trials, which can reduce spending on expensive specialty drugs by over 90%.
Transcription:
What is Public Good Pharma?
Public Good Pharma is a new kind of pharmaceutical company whose interests are aligned with reducing pharmaceutical expenditure for payers while improving outcomes for patients. We discover and clinically validate low-cost therapies that can substitute expensive specialty drugs and reduce pharma spend by over 90%. We do this by conducting Interventional Pharmacoeconomic Clinical Trials that compare our low-cost therapies to expensive specialty drugs. Because of the price difference, these IVPE Clinical Trials are self-funding because the payer would only need to reimburse 80% or less than the post-rebate price of the specialty drug for the duration of the IVPE Trial. And if the clinical trial is successful and shows the low cost therapy is effective, payers and patients could get access to this therapy at over 90% lower cost than the specialty drug. There are many examples of low-cost therapies where medical evidence suggests they're likely better than expensive specialty drugs and can be clinically validated with IVPE Trials but are ignored by traditional pharma because they're unprofitable. Governments and charities also tend to focus on preclinical research. For example, generic IV ketamine rather than S-ketamine for treatment-resistant depression, or using a low dose of an expensive specialty drug, such as a PD-1 inhibitor, to get the same or better outcomes with fewer side effects.
How is Public Good Pharma different?
Payers and patients often have limited and very expensive options for treatment because of perverse incentives. Unlike traditional pharma, Public Good Pharma's interests are aligned because we earn revenue from conducting IVPE Trials and sharing the cost savings with payers. And as noted previously, IVPE Trials are guaranteed to create approximately 20% cost savings, even if it does not reach the expected clinical result. New clinical data is always useful, and Public Good Pharma analyzes existing clinical data and real-world evidence to discover those low-cost therapies most likely to improve patient outcomes. By clinically validating low-cost therapies while reducing expenditure on patented drugs, Public Good Pharma creates new cost savings rather than transferring them elsewhere.
Who is a good fit for Public Good Pharma?
We want to partner with pass-through PBMs and healthcare analytics firms that seek clinical evidence to update their formularies and clinical guidelines with the most cost-effective therapies. We also work with self-insured employers with high costs from specialty drugs in areas where Public Good Pharma has identified IVPE use cases, including rare disease. And finally, we want to connect with brokers and consultants who seek a novel pharmaceutical cost-containment solution for self-insured employers.
Transcription:
What is Public Good Pharma?
Public Good Pharma is a new kind of pharmaceutical company whose interests are aligned with reducing pharmaceutical expenditure for payers while improving outcomes for patients. We discover and clinically validate low-cost therapies that can substitute expensive specialty drugs and reduce pharma spend by over 90%. We do this by conducting Interventional Pharmacoeconomic Clinical Trials that compare our low-cost therapies to expensive specialty drugs. Because of the price difference, these IVPE Clinical Trials are self-funding because the payer would only need to reimburse 80% or less than the post-rebate price of the specialty drug for the duration of the IVPE Trial. And if the clinical trial is successful and shows the low cost therapy is effective, payers and patients could get access to this therapy at over 90% lower cost than the specialty drug. There are many examples of low-cost therapies where medical evidence suggests they're likely better than expensive specialty drugs and can be clinically validated with IVPE Trials but are ignored by traditional pharma because they're unprofitable. Governments and charities also tend to focus on preclinical research. For example, generic IV ketamine rather than S-ketamine for treatment-resistant depression, or using a low dose of an expensive specialty drug, such as a PD-1 inhibitor, to get the same or better outcomes with fewer side effects.
How is Public Good Pharma different?
Payers and patients often have limited and very expensive options for treatment because of perverse incentives. Unlike traditional pharma, Public Good Pharma's interests are aligned because we earn revenue from conducting IVPE Trials and sharing the cost savings with payers. And as noted previously, IVPE Trials are guaranteed to create approximately 20% cost savings, even if it does not reach the expected clinical result. New clinical data is always useful, and Public Good Pharma analyzes existing clinical data and real-world evidence to discover those low-cost therapies most likely to improve patient outcomes. By clinically validating low-cost therapies while reducing expenditure on patented drugs, Public Good Pharma creates new cost savings rather than transferring them elsewhere.
Who is a good fit for Public Good Pharma?
We want to partner with pass-through PBMs and healthcare analytics firms that seek clinical evidence to update their formularies and clinical guidelines with the most cost-effective therapies. We also work with self-insured employers with high costs from specialty drugs in areas where Public Good Pharma has identified IVPE use cases, including rare disease. And finally, we want to connect with brokers and consultants who seek a novel pharmaceutical cost-containment solution for self-insured employers.