CRITICAL PHARMACOECONOMICSAnother vantage point

AN OPEN NOTEBOOK

Who decides what
a treatment is worth?

Notes on medicines, markets and public health.
Questioning what the calculations take for granted.

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NOTES, ANALYSIS, INTERFERENCE

Price is not a property of the molecule.

A molecule has a structure. Its price comes later, produced by rules, expectations and relations of power. Yet in public debate, the price of a medicine often comes to seem like one of its natural characteristics, as if it were its molecular weight.

The WHO describes high prices as a barrier to access to medicines and calls for the policies governing them to be assessed and reviewed. That alone shifts the problem: from the isolated product to the conditions under which it circulates.

Research costs money. So does failure. These facts alone do not establish what price is justified for a particular product. That discussion requires information about additional benefit, alternatives, risk and who bore it. The word innovation cannot do all that work for us.

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