Policies & Practices
Takeda’s U.S. Pricing Philosophy
Our approach to pricing medicines in the U.S. reflects our strong commitment to bringing the right treatment options to patients who may benefit from them. When setting prices, we aim to make our medicines accessible to as many patients as possible, while recognizing the value they bring to patients, providers and the overall healthcare system.
More specifically, we consider and believe in:
The value medicine brings to patients and society.
Every day, we focus on developing therapies that improve patient outcomes, reduce disease burden and offer healthcare providers important new options that enable them to treat patients based on their individual needs. Once on the market, we continue to invest in our treatments in order to demonstrate value and improve patient outcomes.
We believe in partnering with stakeholders to develop initiatives that improve patient outcomes, drive value and support value-based payment for our medicines.
Access for patients.
Ensuring patients have access to the medicines they need is a top priority for Takeda. We recognize that some patients continue to face real challenges in affording their medicines. Therefore, we also invest in programs and solutions to enable access to our medicines.
Providing a thoughtful approach that allows us to continue to deliver innovative medicines.
When we price a new medicine, we carefully consider the ability of patients to access our medicine, while balancing our mission of continuing to develop, research and market new medicines to address patients’ unmet needs. We do not subscribe to the idea that new medicines equal more expensive medicines. We believe the price should reflect the value and innovation a treatment brings to patients, providers and the healthcare system.
We will continue to be thoughtful when we price our medicines and when we consider price increases, taking into account patient access and affordability. We regularly evaluate our pricing, contracting, co-pay support and patient assistance programs which support patients who need our medicines.
In alignment with our philosophy, over the last few years our annual gross and net increases for our U.S. portfolio have been and continue to be in the single digits and we are limiting future price increases in the U.S. to single digits.
We will continue our efforts to thoughtfully and responsibly price our medicines as we strive to do right for patients, society and the future of drug development.
Core Values Handbook
Our Core Values reflect our dedication to making a difference for our patients, their families and healthcare providers, and our commitment to creating sustainable value for our stakeholders. These principles encompass a value system that guides how we conduct business and build trust and confidence with our stakeholders. Our Core Values, coupled with Takeda's strong emphasis on acting with complete integrity at all times, serve as the groundwork to ensure we are successful operating as an ethical organization. We can achieve our mission only when we pursue our goals in a manner that reflects these principles.
Living Our Core Values
By living our Core Values, we are embracing Takeda-ism. Takeda-ism represents the Takeda Group's pledge to act with integrity at all times, especially when facing difficulties or challenges. Integrity refers to compliance with the highest ethical standards, fairness and honesty in conducting every activity and perseverance in pursuing ideal forms of our operations and management. We understand that what matters most is how we live our Core Values which include: Diversity, Commitment, Teamwork Passion, Transparency, and Innovation.
By the demonstrating of these qualities, we show both our commitment to building trust and confidence among all our stakeholders as well as our determination to continue to expand the business.
PhRMA Code on Interactions with Healthcare Professionals
We have endorsed the PhRMA Code on Interactions with Healthcare Professionals (PhRMA Code) and have developed policies and procedures to foster compliance with these standards. For example, the policies require that our company and our employees:
- Refrain from offering or giving anything of value to healthcare professionals in exchange for prescribing or recommending the prescribing of any of our products. Kickbacks, bribes, rebates or any kind of benefits intended to induce prescribing are prohibited
- Have a legitimate business need and sign a written agreement with each healthcare professional from whom we obtain consultation or other services that reflects fair market value payment for services we receive
- Only provide items designed primarily for the education of healthcare professionals or patients. Gifts and entertainment may not be provided
- Promote our products in a manner that is balanced, accurate, not misleading and is consistent with the approved product label and regulatory requirements
- Only promote our products for a specific use in a country after that country's regulatory authority has authorized to market the product for that use
- Respect the confidential nature of prescriber data and use it appropriately to facilitate communications with healthcare professionals in a manner consistent with our policies
Reporting Ethical Infractions
Comments, concerns and complaints regarding our ethics and integrity as displayed in our policies, practices, activities and events, or individual conduct can be reported to our Compliance and Ethics HelpLine: 866-469-6566 or website: mpi.alertline.com