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Progress in Medical Sciences ISSN: 2577 - 2996
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Progress in Medical Sciences. 2023; 7(3):(118-164)


Strategies for Navigating Drug Pricing Challenges: A Global Perspective

Nazim N Haider

Abstract

This paper delves into the intricate landscape of global drug pricing and offers insights into strategies for navigating the challenges faced by pharmaceutical companies. By examining factors such as pricing transparency, access and affordability, health technology assessment, global market dynamics, public perception, and ethical considerations, the paper highlights the importance of informed pricing decisions that align with ethical standards and corporate values. Real-world data emerges as a crucial tool in supporting economic value assessment, comparative effectiveness research, and market access strategies. The paper emphasizes the need for evidence-based approaches, stakeholder engagement, and tailored pricing strategies to address concerns about access and affordability while ensuring sustainable business growth in the healthcare sector. Ultimately, by leveraging real-world data and adopting proactive pricing strategies, pharmaceutical companies can contribute to the promotion of access to essential medicines, support innovation, and uphold ethical standards in the pharmaceutical industry on a global scale.