And what were the team’s takeaways from the project?
“The data analysis, as well as working with teammates and their reactions,” will prove helpful in future endeavors, said Salova, “along with the methodology inherent in a research paper. Most importantly, we learned what questions to ask.”
Added Toporcer,” We had to think outside the box,” due to lack of history for the COVID-19 pathogen. “We had to learn how to price and compare therapeutics based in part on past epidemics, particularly HIV.”
“We also gained insight to regulations and how companies respond to input and criticism for setting drug prices,” observed Vashist, who has already earned a Master of Public Health degree. “For me, it was mind blowing.”
“In preparing their paper, the team received valuable exposure to methods of primary and secondary market research, in addition to a chance to confer with, and learn from, industry professionals,” Munshaw observed. “I’ve been connecting students in my classes with industry colleagues so they can get that perspective. This helps with the nuances of the paper,” she explained.
In all, Munshaw notes, the students’ pricing recommendations were in line with estimates offered by several industry experts. The Carey team’s recommendations proved “very reasonable,” she added, as well as a testament to diligent research, critical thinking, and academic integrity.