A recent report in the New York Times details Sanofi’s decision to cut the cost of a new cancer drug after physicians at Memorial Sloan-Kettering announced they would not prescribe the drug due to its exorbitant price.
Cancer drug's cost slashed following Sloan-Kettering decision
A recent op-ed in the New York Times discusses how Memorial Sloan-Kettering is taking a small but meaningful step toward reining in cancer drug costs by refusing to provide patients with a new and indefensibly expensive drug.
Increasing drug costs drive high spending
The increasing use of costly drugs that provide no treatment benefit is one of the major factors contributing to America’s astronomical health care spend. This holds true in oncology, where the average cost of a new drug coming on the market has more than doubled over the past eight years to about $10,000 per month. Recently, two new cancer drugs have emerged on the market with a price tag of more than $35,000 per month.
Memorial Sloan-Kettering takes cancer drug costs into account
A recent study found that nonprofit hospitals in North Carolina and several other states are inflating the prices of their chemotherapy drugs, making them anywhere between two and 10 times higher than the drug acquisition costs.
Chemotherapy administration is increasingly shifting from the private practice to hospital setting, making this data all the more unsettling as both the payers and the public are increasingly concerned that hospital drug pricing will further drive up the costs of cancer care.
Hospitals' chemotherapy prices attracting public, payer attention