(Public Summary)
Mandate
The MARA Rating Committee is responsible for determining and maintaining standardized market access risk ratings for pharmaceutical drug–indication pairs.
Its objective is to ensure consistency, comparability, and defensibility across assets and over time.
Composition
The committee consists of multidisciplinary experts with experience in health technology assessment, payer policy, health economics, clinical evaluation, and reimbursement decision processes.
Committee composition may rotate by therapeutic area.
Independence
No single analyst determines a rating outcome.
Ratings are determined through structured committee judgment.
Members with material conflicts of interest recuse themselves.
Evidence is restricted to public, verifiable sources.
Issuers may correct factual inaccuracies but cannot influence rating outcomes.
Decision Process
Each rating undergoes:
Structured pre-read scoring across 10 domains
Domain-level challenge and discussion
Committee deliberation
Formal vote
Documentation of rationale and minutes
Surveillance Responsibilities
The committee oversees:
Event-driven reviews following material developments
Periodic review of outstanding ratings
Rating actions (Affirmed, Upgrade, Downgrade, Under Review, Watch Positive/Negative)
Records & Transparency
Committee minutes are documented internally.
Public methodology and surveillance policies are maintained and updated as required.