What’s Behind Drug Pricing: The Hidden Role and Limits of Cost-Effectiveness Analysis

In this episode of Perspectives by the Leerink Center for Pharmacoeconomics, Melanie Whittington breaks down a fundamental—and increasingly consequential—question in health economics: what counts as value in cost-effectiveness analysis? For biotech leaders and investors, Mel cautions that this isn’t just an academic debate. The frameworks adopted by HTA bodies influence pricing, access, and ultimately, how innovation is rewarded. In this episode, Mel explores: The evolution of perspective in cost-effectiveness analysis Why CEA is not a “precise” science—and why that matters How modeling choices impact pricing determinations And how innovators can use these tools to tell their value story