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Latham BioPharm Group Awarded Grant to Develop a Global Health Cost Model Platform
The easy-to-use, web-based modeling tool will be used in determining the cost of goods of pharmaceutical APIs.
Baltimore, Maryland - Latham BioPharm Group (LBG), part of Sia Partners, has been awarded a grant by the Bill & Melinda Gates Foundation to develop an easy-to-use, web-based modeling tool for use in determining the cost of goods of pharmaceutical APIs. The tool will provide a cost-effective means for a wide variety of stakeholders, ranging from process scientists to government purchasers, to rapidly evaluate the viability of pharmaceutical products in their intended markets, inclusive of the value of different manufacturing approaches. LBG, in collaboration with parent organization Sia Partners, offers a unique capability set that will leverage LBG’s life sciences technical consulting expertise with Sia Partners’ leading artificial intelligence solutions (Heka.ai) and customer experience expertise (SiaXperience) to develop this new capability.
“Since we initially began developing cost models with the foundation several years ago, we have realized the value of quick, consistent modeling to support pharmaceutical development decisions,” says Chris Peterson, LBG’s Director of Strategic Consulting. “This was demonstrated during COVID-19 and our modeling work on Molnupiravir specifically. Rapid development of new synthetic pathways, coupled with the ability to consistently evaluate a program’s economics, leads to the identification of significant cost reductions and the potential for greater global access from a public health standpoint. We look forward to building on this important work and making these tools more broadly accessible.”
This project directly aligns with the foundation’s public health efforts to enhance global access to patients who often need these products the most. Additionally, the ability to support this type of meaningful program and develop a new capability/product offering is consistent with LBG’s strategic commitment to serve as a world leader in life sciences consulting.
To ensure that a robust requirements set is developed, the team is working with early adopters to solicit feedback on how the modeling tool may be utilized in both global public health and commercial pharmaceutical decision-making.