Crystal Foretia
Sep 12, 2017

Pricing of Cancer Drugs

Today it was reported that new cancer drugs cost $650 million to develop according to an analysis done by JAMA Internal Medicine. This pales in comparison to the $2.7 billion price tag that research done by pharmaceutical companies claimed. NPR says, "On average, the study found each product produced seven times as much revenue as it cost in research and development — and the drugs will yield profits for years to come." The study does not specifically account for the costs of failures, but the overall spending on research and development. What do you think?

Sources:

http://www.npr.org/sections/health-shots/2017/09/11/550135932/r-d-costs-for-cancer-drugs-are-likely-much-less-than-industry-claims-study-finds

www.nytimes.com/2017/09/11/health/cancer-drug-costs.html

http://www.businessinsider.com/drug-costs-to-develop-a-new-cancer-drug-2017-9

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