The PhRMA Foundation is a 501(c)(3) nonprofit organization that supports biopharmaceutical innovation and value-driven health care. It aims to catalyze the careers of promising researchers by providing competitive, peer-reviewed grants and fellowships in drug delivery, drug discovery, translational medicine, and value assessment and health outcomes research. Its vision is a healthier world where all have access to life-changing medicines, emphasizing integrity, innovation, and collaboration in its efforts.
The PhRMA Foundation, in collaboration with the Journal of Managed Care & Specialty Pharmacy (JMCP), offers Challenge Awards to promote innovative solutions in healthcare value assessment, specifically addressing the implementation challenges of the Inflation Reduction Act by the Centers for Medicare & Medicaid Services (CMS). The awards focus on inviting research proposals or papers that provide groundbreaking approaches relevant to CMS's negotiation of maximum fair prices. Topics of interest include methods for assessing clinical benefit, methodological standards in comparative effectiveness, and incorporating real-world evidence into evaluations. Winning submissions, which align with legislative mandates and consider diverse stakeholder needs, will receive a $25,000 award and publication in JMCP.