Monday, September 25, 2006

“Is a Medical Innovation Prize Fund Compatible with Patient-Based Evidence?”

The Consumer Project on Technology (CPTech) is hosting a brown bag
lunch seminar by Peter Pitts: “Is a Medical Innovation Prize Fund
Compatible with Patient-Based Evidence?”

Date: Thursday, November 9th, 2006

Time: 12-1:30pm

Venue: 1621 Connecticut Avenue Suite 500, Washington, DC 20009

Recent CPTech seminars have favorably discussed proposals to promote
pharmaceutical innovation through a public fund rather than market
monopolies. On November 9th, Peter Pitts will present an important
criticism of these proposals.

Peter Pitts is perhaps best know to members of this list as one of
the “wonks” at the pharmaceutical blog He was the
Chief Messaging Officer at the FDA from 2002-2004, and he is co-
founder of the Center for Medicine in the Public Interest. Formerly
a senior fellow for health care studies at the Pacific Research
Institute, he is currently senior vice president for health affairs
at Manning, Selvage & Lee.

Pitts notes that proposed medical innovation prize funds would reward
pharmaceutical innovations in proportion to the incremental health
benefits they provide. However, Pitts will argue, evidence of
incremental health benefits provided by new drugs is expensive and
difficult to obtain and often inadequate. Trends toward
pharmacogentic technology and improved diagnostic tools suggest that
determining the overall health benefits of future pharmaceutical
developments will be even more difficult, if not impossible, as new
drugs will be evaluated on a basis more narrowly tailored to
individual patients than to the population as a whole. As a result,
compensation for pharmaceutical innovators is most appropriately
determined by the spending choices of well-informed consumers who
know their own medical situations best.

We encourage all to attend what will certainly be an insightful and
lively presentation and discussion. If you would like to join us,
please RSVP your name, title, organization and contact information to or 202-332-2670.


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