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For Whom the Price Escalates: High Price and Uncertain Value of Cancer Drugs

Author

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  • Gyeongseon Shin

    (College of Pharmacy, Ewha Womans University, Seoul 03760, Korea)

  • Hye-Young Kwon

    (Division of Biology and Public Health, Mokwon University, Deajeon 35349, Korea)

  • SeungJin Bae

    (College of Pharmacy, Ewha Womans University, Seoul 03760, Korea)

Abstract

The price of cancer drugs has skyrocketed, yet it is not clear whether their value is commensurate with their price. More cancer drugs are approved under expedited review, which considers less rigorous clinical evidence, yet only 20% of them show an overall survival gain in the confirmatory trial. Moreover, clinical data are often generated based on small, single-arm studies with surrogate outcomes, challenging economic evaluation. With their high price and uncertain (marginal) clinical value, cancer drugs are frequently rejected by health technology assessment (HTA) bodies. Therefore, agencies, including the UK’s National Institute for Health and Care Excellence (NICE), have adopted cancer drug funds (CDF) or risk-sharing schemes to provide extra access for expensive cancer drugs which fail to meet NICE’s cost effectiveness threshold. With rising pricing and fewer new cancer medications with novel mechanisms of action, it is unclear if newly marketed cancer therapies address unmet clinical needs or whether we are paying too much. Transparency, equity, innovativeness, and sustainability are all harmed by a “special” approach for cancer medications. If early access is allowed, confirmatory trials within a certain time frame and economic evaluation should be conducted, and label changes or disinvestment should be carried out based on those evaluations.

Suggested Citation

  • Gyeongseon Shin & Hye-Young Kwon & SeungJin Bae, 2022. "For Whom the Price Escalates: High Price and Uncertain Value of Cancer Drugs," IJERPH, MDPI, vol. 19(7), pages 1-4, April.
    • Handle: RePEc:gam:jijerp:v:19:y:2022:i:7:p:4204-:d:785139
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    References listed on IDEAS

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    1. Patrick Richard & Nilam Patel & Yuan-Chiao Lu & Regine Walker & Mustafa Younis, 2021. "The Financial Burden of Cancer on Families in the United States," IJERPH, MDPI, vol. 18(7), pages 1-14, April.
    2. Daniela Moye-Holz & S. Vogler, 2022. "Comparison of Prices and Affordability of Cancer Medicines in 16 Countries in Europe and Latin America," Applied Health Economics and Health Policy, Springer, vol. 20(1), pages 67-77, January.
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