Many New Oncology Drugs In 2012, With Prices That Test The Limits
More than a dozen new molecular entities launched for the treatment of cancer in 2012, advancing care for seriously ill people, but many carry price tags of $100,000 per year or more for treatment, escalating debate over cost of care and how best to direct limited healthcare resources.
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The price of new oncology brands doubled in the US from 2013 to 2017, bringing the median annual price to more than $160,000 last year, up from $79,000 in 2013, according to a new IQVIA report. Spending on cancer drugs in the US has doubled since 2012, reaching nearly $50bn in 2017.
Experts note that the high price tags for novel oncology products is discouraging to third-party comparative effectiveness research, which is one of the few things that could actually check the steady climb of cancer costs.
While cancer experts are almost giddy with enthusiasm about rapid advances in cancer immunotherapy—in a field not known for euphoria--they are equally pessimistic about market access hurdles as impediments to improved patient care and are seeking manageable approaches to assessing value.