CHESTERBROOK, PA — Trevena, Inc. (Nasdaq: TRVN) announced the publication of the health economic model for OLINVYK (oliceridine) injection in Journal of Comparative Effectiveness Research. The model estimates the budget impact of OLINVYK compared to IV morphine when used on-demand in a hospital setting for postoperative pain.
The publication is titled, “Cost-effectiveness and Cost-benefit Analysis of Oliceridine in the Treatment of Acute Pain,” with lead author Kit N. Simpson, DrPH, Professor of HealthCare Leadership and Management, College of Health Professions and Public Health, and Director, Comparative Effectiveness Data Analysis Resource (CEDAR) Core at Medical University of South Carolina (DOI: https://doi.org/10.2217/cer-2021-0107).
“I am pleased to have the health economic model now in the published literature – a significant milestone that will continue to support the formulary review process for OLINVYK,” said Mark A. Demitrack, M.D., Senior Vice President and Chief Medical Officer of Trevena. “We have had multiple opportunities to present these compelling cost offset findings to the medical community, and the response from hospital decision makers has been consistently positive and very encouraging.”
As previously announced, the model calculates a significant decrease in total cost of care per 1,000 patients associated with OLINVYK, compared to IV morphine. These cost savings are due to potentially reduced adverse effect(s) (AEs) for OLINVYK-treated patients, as observed in the Phase 3 pivotal trials, and using AE cost estimates based on government and published literature sources.
The publication can be found at https://www.trevena.com/publications. While the cost savings in these health economic models cannot be guaranteed, they are based on generally accepted methodology, and pharmacy and therapeutics committees typically review health economic models when making drug formulary decisions.
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