Drug Pricing Case Study
Blovnox was approved by the US Food and Drug Administration in 2016 for the treatment of patients with chronic lymphoma. The dosing is 30 milligrams per day three times a week. Patients are on treatment for an average of 7 weeks. The cost per 10 milligrams is $615. The cost per patient is about $39,000. A randomized clinical trial recently demonstrated that Blovnox is also effective in treating patients with Multiple Sclerosis (MS). The dosing is 12 milligrams per day for 5 days per year. At the drug?s current price, that works out to $3,700 per patient per year. Equivalent MS medications are priced at about $60,000 per year. Suppose you were a brand manager for Blovnox. If you leave the price of Blovnox unchanged, you potentially lose out on a lot of revenue when Blovnox is used in MS patients. If you increase the price of Blovnox so that it costs $60,000 per year for MS patients, the price for lymphoma patients would increase to $630,000 per year, a price that would put it well above the price of comparable cancer drugs.
- What would you do?
- What information would you want to know before you made your decision?
- What analyses would you want to perform?
Just answer this question from your thought and your thinking and ideas ( no need references at all)please write two completely different paragraphs to answer this question,(No identical answer for these two paragraph please)every paragraph 140 wards…..total one page
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