Value for price We have entered the era of the million-dollar drug. Gene therapy is making real the potential of new therapies to diagnose, treat or even cure rare diseases. But how are people supposed to access and afford these lifesaving solutions? How does an industry put a price on life and still expect to be loved? The disparities in healthcare accessibility between rich and poor countries, and between the insured and underinsured, have never been greater, and the conversation about price — for individuals, insurance providers and government institutions — has never been more urgent. Some governments, such as China’s, are making a concerted effort to improve access and affordability, but it’s a problem that requires intense cooperation from all sectors to address. Pharma and biotech have tried to explain the high cost and length of time required for drug development, but these stories haven’t resonated in the ways they hoped. Some innovative companies are beginning to approach the issue of price more creatively. One U.S. company has priced its sight-saving gene therapy based on the legal courts’ valuation of the price of sight. In addition, they forged never-before-seen partnerships with payers to share in the cost of the treatment based on the drug’s performance. In addition, many are unaware that pharma companies offer compassionate access programs for individuals or countries that cannot afford their medications. Brands must take a more visible stand around access and price and be progressive in finding new ways to communicate their value. For example, if pharmaceutical companies were more transparent about the potential value of their pipeline therapies prior to approval, in addition to their efficacy, industry perceptions among stakeholders could improve. 6