Have you ever balked at the cost of cancer care for you or a loved one? A common thought is, like most things, more expensive means better quality and results, right?
Apparently not when it comes to new cancer drugs.
Researchers at the universities of California San Francisco, Maryland, and Switzerland looked at the relationship between drug price and survival measures and found that the price of new cancer drugs is not linked with how well they actually work for patients.
224 cancer drugs were approved in the last few years. The average cost of a single drug was nearly $200,000 dollars yearly. That cost has risen from $120,000 only a decade ago.
So how are these drugs getting priced? According to the researchers, most likely based on how much the market is willing to pay.