Value has found a place at the heart of healthcare innovation. For money-conscious governments and other actors in the system, it’s not enough that a new treatment be beneficial and safe. It also needs to be cost effective.

This emphasis on value is even changing the profile of the pharmaceutical workforce. As the Financial Times wrote, “Novartis employs more than 1,200 dual-qualified mathematicians and engineers to analyze big data sets and calculate the value of new drugs—for instance, their potential to reduce hospitalizations and so cut costs. As recently as six years ago, not a single one was on the payroll.”

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