Price of cancer treatment skyrockets as doctors scramble for solutions

Thursday, August 6, 2015
By Paul Martin
6 Aug, 2015

New research shows the average price of cancer drugs has increased 10-fold, from $5,000 in 2000 to more than $100,000 by 2012. At the same time, the average US household income has decreased by about eight percent.
More than 100 oncologists participated in research which found that, on average, Americans are paying 50 to 100 percent more for the same patented cancer drugs than patients in other countries. They argued the high costs are affecting patient care and the American health care system overall.

With one in three people likely to be affected by cancer in the US over their lifetime, the trend is causing harm to patients with cancer and their families, according to the study.

Pharmaceutical companies argue the high prices of cancer drugs are in response to the expense of conducting research and drug development. They also say market forces will settle prices to reasonable levels and that any price controls on cancer drugs would stifle innovation.

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