PPM's Candid Conversations | Exclusive Interview with Alvin Ong

Are you curious about how pharma companies secure drug pricing and formulary access? Want to know how policy changes like the Inflation Reduction Act (IRA) and organizations like ICER are reshaping the industry? In this episode, we sit down with Alvin Ong, Director of Value & Access at Xenon Pharmaceuticals, to explore the power of Market Access, HEOR, and Real-World Evidence in today’s pharma landscape. Below are the key takeaways from the conversation:

• The Role of Market Access & HEOR in Drug Commercialization

  • Alvin highlighted the importance of Health Economics & Outcomes Research (HEOR) and real-world evidence in securing formulary access for new medications.

  • Market access strategies go beyond clinical trials—they focus on demonstrating economic value to payers and ensuring unrestricted patient access post-approval.

• Impact of the Inflation Reduction Act (IRA) on Pharma

  • The IRA allows Medicare to negotiate drug prices, increasing the need for real-world data and economic evaluations to justify pricing.

  • Companies must develop strong evidence packages to support these negotiations and maintain favorable reimbursement.

• The Growing Influence of ICER & Value-Based Pricing

  • The Institute for Clinical and Economic Review (ICER) is becoming a key player in drug pricing, evaluating whether new treatments provide sufficient value for the cost.

  • Manufacturers must proactively engage in comparative effectiveness research to position their drugs competitively.

• Internal Strategy & Cross-Functional Collaboration

  • Market access teams play a pivotal role in aligning internal clinical, commercial, and policy teams to navigate payer negotiations.

  • Smaller biotech firms, like Xenon Pharmaceuticals, need to optimize internal governance structures to respond effectively to policy changes like the IRA.

• Future of Market Access & Real-World Evidence

  • The demand for HEOR and real-world data expertise is growing rapidly, making these areas prime opportunities for professionals looking to enter market access roles.

  • Pharma companies will increasingly rely on real-world datasets to support post-approval evidence generation and payer negotiations.

• Advice for Professionals in Market Access

  • Understanding policy shifts, payer expectations, and access barriers is critical for success in value and access roles.

  • Market access is no longer an afterthought—it is a core business function shaping the commercial success of new therapies.

Thank you, Alvin Ong, for sharing your insights on market access, HEOR, and the evolving payer landscape!

#MarketAccess #HEOR #PharmaStrategy #HealthcareEconomics #ValueBasedCare  Disclaimer:

The opinions, views, and statements expressed by Alvin Ong, Director of Value & Access at Xenon Pharmaceuticals, during this interview are solely his own and do not necessarily reflect the opinions, positions, or policies of Xenon Pharmaceuticals or any of its affiliates. All comments are made in his personal capacity and should not be interpreted as official statements, endorsements, or representations of the company. Any reference to Alvin Ong’s professional background is provided for contextual purposes only and does not imply Xenon Pharmaceuticals’ involvement or endorsement of the views expressed.