07 June 2018

Takeda pioneers NICE’s new service for economic model review

NICE Scientific Advice (NSA) launched a new health economic model review service, PRIMA, in December 2017 and it is already proving to be a valuable resource for model developers.

Takeda pioneers NICE’s new service for economic model review

PRIMA, which stands for Preliminary Independent Model Advice, offers model developers independent expert advice on the robustness and technical rigor of their economic models. It is a comprehensive, peer review service to help developers of drugs, medical devices and diagnostics, and public health interventions ensure the quality of their model structure, coding, usability and transparency.

Global pharmaceutical company Takeda endorsed the service after completing two PRIMA projects with NSA. Peter Wheatley-Price, Market Access and Pricing Director at Takeda UK Ltd, said: “Demonstrating patient value is one of our strategic priorities at Takeda. The creation of robust technology appraisals is therefore an important part of our daily work. We were delighted to be one of the first companies to work with the PRIMA service, and collaborate with NICE on improving this valuable tool. The Takeda team valued the quality of the PRIMA reports and model review documentation.

“We appreciated the PRIMA team’s engaging and flexible approach at this pivotal stage in development and look forward to using the service as part of our model development going forward.”

Leeza Osipenko, head of NICE Scientific Advice said: “We’re delighted that PRIMA has been welcomed so enthusiastically by Takeda and that we’ve been able to demonstrate the value in utilising our expert advice to ensure the quality of their economic models before they submit them as part of the formal evaluation process.

“If companies are better able to demonstrate the value of their products this can also potentially speed up patient access to them.”

Health economic models are used to demonstrate the value of a product and are an important (required in some settings) part of the process for achieving reimbursement, market access and informing health policy decisions.

The PRIMA service is open not only to models developed for future NICE technology appraisals but also to those developed for social care, public health, or in international settings In addition to cost-utility models, PRIMA can be used to quality assure cost-consequence, cost-minimisation, and budget impact models.

NICE Scientific Advice provides a fee-based consultancy service to developers of pharmaceuticals, biopharmaceuticals, medical devices and diagnostics. It works with companies in the early stages of product development and its aim is to encourage companies to consider the relative clinical and cost effectiveness of their products which can then inform the overall product development strategy.

We’re delighted that PRIMA has been welcomed so enthusiastically by Takeda and that we’ve been able to demonstrate the value in utilising our expert advice to ensure the quality of their economic mode

Leeza Osipenko, head of NICE Scientific Advice

We appreciated the PRIMA team’s engaging and flexible approach at this pivotal stage in development and look forward to using the service as part of our model development going forward.

Peter Wheatley-Price, Market Access and Pricing Director at Takeda UK Ltd