Dictionary
The Dictionary provides concise definitions of health economics terms, arranged alphabetically for quick reference. Use it to understand unfamiliar terminology or confirm the meaning of a specific term.
O
- Orphan DrugRare Disease Drug, Orphan Medicine
- A treatment developed specifically for a rare disease below a specified population threshold, eligible for special regulatory designation and incentives.
- Orphan Drug DesignationODD, Special Regulatory Status, Orphan Designation
- A regulatory status for a rare disease treatment, giving development incentives such as tax credits, fee waivers, and extended market exclusivity.
- Orphan Drug IncentivesRare-Disease Incentives, Orphan Development Incentives
- The regulatory and financial benefits offered to manufacturers developing rare disease treatments, including trial expense tax credits and extended exclusivity.
- Orphan Drug PricingOrphan Pricing, Rare-Disease Drug Pricing
- The pricing strategies applied to rare disease treatments, frequently priced far higher per patient than common-condition treatments given the smaller patient population.
- Orphan Drug ThresholdOrphan Threshold, Higher Rare-Disease Threshold
- The population size threshold defining a disease as rare or orphan for regulatory designation, varying somewhat across countries and jurisdictions.
- Orphan ExclusivityOrphan Market Exclusivity, Orphan Drug Exclusivity
- A market exclusivity period following orphan drug approval during which regulators generally will not approve a similar competing product for the same rare indication.
U
- Ultra-Orphan DrugUltra-Orphan Medicine, Very-Rare-Disease Drug
- A treatment for an extremely rare disease, an even smaller subset of orphan diseases, posing particularly acute evidentiary challenges.