Why Has Pharmacoeconomics Gained Importance

As healthcare costs continue to rise, governments are continually seeking to contain their healthcare expenditures.

Pharmacoeconomics is one approach being employed in the fight to make healthcare budgets stretch further while at the same time allowing new technologies to be made available. In response, many countries are requiring pharmaceutical companies to provide full economic evaluations when submitting marketing authorizations for new products. These evaluations, which must include cost-effectiveness data, are often called the "Fourth Hurdle'' in the marketing authorization process, as they go beyond the usual three requirements of Quality, Safety, and Efficacy data.

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