Author: Madhur Garg, Sciformix – A Covance Company
The emergence of value based payments (VBP) has highlighted the importance and relevance of real world evidence (RWE). RWE is used to assess a product’s safety, efficacy to effectiveness translation, cost effectiveness and product differentiation,1,2 thus helping payers and manufacturers to implement ‘performance-based risk-sharing agreements’ and patients to manage budgets and estimate risk benefit of interventions. Manufacturers can leverage RWE to obtain accelerated market access and it can facilitate payers in substantiating drug pricing and reimbursement. Real World Data (RWD) can help with regulatory approval of label expansion or new indications for marketed drugs.