Morning Briefing
Summaries of health policy coverage from major news organizations
Cancer Drug Costs Skyrocket, Create Tension Between Doctors, Drug Makers
Spending on cancer drugs is skyrocketing and shows no signs of slowing. IMS Health, which tracks the market, estimates that spending on these medications hit $100 billion worldwide in 2014, an increase of 10.3 percent, bringing the compound annual growth rate to 6.5 percent over the past five years. That's expected to rise to 6 percent to 8 percent through 2018, when total global spending is forecast to hit between $114 billion to $147 billion. (Berr, 7/24)
Recent breakthroughs in cancer treatment come with a hefty price tag. In 2014, virtually every new cancer-treatment drug approved by the Food and Drug Administration was priced at more than $120,000 a year, according to a new study. And the cost for each additional year lived by a patient as a result of new drugs soared from $54,000 in 1995 to $207,000 in 2013. (Pianin, 7/23)
A group of cancer doctors is trying to create a database on cancer drugs. It would give a score for each drug, reflecting how well the drug works, and also how much the drug costs. (Kestenbaum, 7/24)
In other news, The Wall Street Journal writes about the latest bid to alter the prescription-drug pricing landscape in the U.S. by having the federal government negotiate with drug makers for Medicare Part D medicines -
In the latest bid to alter the prescription-drug pricing landscape in the U.S., a new paper argues that the federal government could save between $15.2 billion and $16 billion annually if it negotiated with drug makers for Medicare Part D medicines and obtained the same prices that are paid by Medicaid or the Veterans Health Administration. (Silverman, 7/23)
