Pricing the Next Wave of COPD Therapies: Lessons from Current Reimbursement Patterns
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June 2026
Economic Value of Novel Therapeutics for Chronic Obstructive Pulmonary Disease
Health and economic value is generated from reducing exacerbations.
In this Center for Pharmacoeconomics Exclusive, we estimate value-anchored launch price ranges for a novel therapeutic for chronic obstructive pulmonary disease (COPD).
Bottom Line: Treatments that reduce COPD exacerbations generate meaningful economic value, supporting the consideration of value-anchored price estimates in pricing discussions. Economic analyses that account for broader societal impacts and lifecycle pricing support higher value-anchored price estimates.
Key Takeaways:
- Value-anchored price estimates vary across cost-effectiveness analysis frameworks and thresholds. The estimates can vary widely depending on treatment effectiveness, cost-effectiveness framework, and the value elements considered, highlighting how clinical performance and economic assumptions can defend pricing.
- Treatment effectiveness is a primary driver of economic value. Greater reductions in exacerbations increase value-anchored price estimates, underscoring the potential influence of clinical performance on pricing discussions.
- Including broader value elements meaningfully increases estimated value. Accounting for impacts beyond the healthcare system (e.g., patient productivity gains) can increase value-anchored price estimates compared with analyses limited to health system costs and health outcomes.
Implications for biotech companies and investors: Understanding how clinical outcomes translate into value-anchored price estimates can help contextualize the potential economic value of pipeline therapies, guide evidence generation, and inform pricing acceptance in an environment of increasing pricing scrutiny.
Next steps: This analysis is intended to establish a foundational economic modeling framework for evaluating novel therapeutics in chronic obstructive pulmonary disease. In future reports, we will build on this framework to examine more specific questions, including the pricing implications for existing and emerging therapies.
For details on obtaining full access to the report, contact us via email at cpe@medacorp.com.
The Leerink Center for Pharmacoeconomics is a division of MEDACorp and an affiliate of Leerink Partners
Leerink Center for Pharmacoeconomics
– Melanie Whittington, PhD, Managing Director, Head of the Center for Pharmacoeconomics
Disclosures
The Center for Pharmacoeconomics (“CPE”) is a division of MEDACorp LLC (“MEDACorp”). CPE is committed to advancing the understanding and evaluating the economic and societal benefits of healthcare treatments in the United States. Through its thought leadership, evaluations, and advisory services, CPE supports decisions intended to improve societal outcomes. MEDACorp, an affiliate of Leerink Partners LLC (“Leerink Partners”), maintains a global network of independent healthcare professionals providing industry and market insights to Leerink Partners and its clients. The information provided by the Center for Pharmacoeconomics is intended for the sole use of the recipient, is for informational purposes only, and does not constitute investment or other advice or a recommendation or offer to buy or sell any security, product, or service. The information has been obtained from sources that we believe reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such. All information is subject to change without notice, and any opinions and information contained herein are as of the date of this material, and MEDACorp does not undertake any obligation to update them. This document may not be reproduced, edited, or circulated without the express written consent of MEDACorp.
© 2026 MEDACorp LLC. All Rights Reserved.
Disclosures
The Center for Pharmacoeconomics (“CPE”) is a division of MEDACorp LLC (“MEDACorp”). CPE is committed to advancing the understanding and evaluating the economic and societal benefits of healthcare treatments in the United States. Through its thought leadership, evaluations, and advisory services, CPE supports decisions intended to improve societal outcomes. MEDACorp, an affiliate of Leerink Partners LLC (“Leerink Partners”), maintains a global network of independent healthcare professionals providing industry and market insights to Leerink Partners and its clients. The information provided by the Center for Pharmacoeconomics is intended for the sole use of the recipient, is for informational purposes only, and does not constitute investment or other advice or a recommendation or offer to buy or sell any security, product, or service. The information has been obtained from sources that we believe reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such. All information is subject to change without notice, and any opinions and information contained herein are as of the date of this material, and MEDACorp does not undertake any obligation to update them. This document may not be reproduced, edited, or circulated without the express written consent of MEDACorp.
© 2026 MEDACorp LLC. All Rights Reserved.
Disclosures
The Center for Pharmacoeconomics (“CPE”) is a division of MEDACorp LLC (“MEDACorp”). CPE is committed to advancing the understanding and evaluating the economic and societal benefits of healthcare treatments in the United States. Through its thought leadership, evaluations, and advisory services, CPE supports decisions intended to improve societal outcomes. MEDACorp, an affiliate of Leerink Partners LLC (“Leerink Partners”), maintains a global network of independent healthcare professionals providing industry and market insights to Leerink Partners and its clients. The information provided by the Center for Pharmacoeconomics is intended for the sole use of the recipient, is for informational purposes only, and does not constitute investment or other advice or a recommendation or offer to buy or sell any security, product, or service. The information has been obtained from sources that we believe reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such. All information is subject to change without notice, and any opinions and information contained herein are as of the date of this material, and MEDACorp does not undertake any obligation to update them. This document may not be reproduced, edited, or circulated without the express written consent of MEDACorp.
© 2026 MEDACorp LLC. All Rights Reserved.
