Drug Pricing and Value in Oncology
1The Wharton School, University of Pennsylvania, Philadelphia, USA. danzon@wharton.upenn.edu.
Summary
Cancer drug prices are rising faster than inflation, with limited data for comparisons. The US significantly influences global cancer drug expenditures and often has the highest prices.
Area of Science:
- Oncology
- Health Economics
- Pharmaceutical Policy
Background:
- Originator cancer drug prices are increasing rapidly, outpacing general inflation.
- Existing data are insufficient for comprehensive comparisons between cancer and other specialty drugs.
- The United States represents a major market, accounting for 46% of global cancer drug spending.
Purpose of the Study:
- To review evidence on cancer drug pricing, price growth, and value.
- To analyze factors contributing to high and increasing cancer drug prices, with a focus on the US market.
Main Methods:
- Literature review of existing evidence on cancer drug prices and value.
- Analysis of factors influencing cancer drug pricing, concentrating on the US context.
Main Results:
- Evidence indicates significantly higher price growth for originator cancer drugs compared to general inflation.
- The US market is a key driver of global cancer drug expenditures and pricing trends.
- Data limitations hinder robust price comparisons across different specialty drug categories.
Conclusions:
- Cancer drug prices are escalating at a concerning rate.
- Understanding the drivers of these high prices, particularly in the US, is crucial for policy and patient access.
- Further research is needed to enable robust comparisons and inform pricing strategies.
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