The political economics of cancer drug discovery and pricing
1UCL School of Pharmacy Offices, University College London, BMA House, Tavistock Square, London, WC1H 9JP, UK.
Abstract:
Drug discoveries can, when used appropriately, save lives. Since 1970, cancer death rates among people aged under 65 have halved in countries such as the USA and the UK. Despite pharmaceutical market imperfections and fears about the prices of new treatments, further progress should be possible during the 2020s. Anticancer medicine outlays account for 0.1-0.2% of the gross domestic product (GDP) of developed countries. Total cancer service spending typically stands at ∼0.8% of GDP. The affordability of these sums is a political calculation. Improvements in the efficiency of drug development and global access to effective therapies are desirable. However, from a public interest perspective, these goals should not be pursued in ways that understate the value of better treatment outcomes and threaten the funding available for ongoing innovation.
Insights
Cancer drug discoveries have halved death rates in developed nations since 1970. Continued progress in the 2020s is possible, balancing innovation funding with accessible cancer treatments.
Area of Science:
- Oncology
- Health Economics
- Pharmaceutical Policy
Background:
- Significant reductions in cancer mortality observed since 1970 in developed countries.
- Pharmaceutical market imperfections and concerns regarding new cancer drug prices exist.
- Anticancer medicine expenditure represents a small fraction of GDP, with total cancer services at approximately 0.8%.
Purpose of the Study:
- To assess the potential for further progress in cancer drug discovery during the 2020s.
- To examine the economic context of anticancer medicine outlays and total cancer service spending.
- To advocate for strategies that improve drug development efficiency and global access without compromising innovation funding.
Main Methods:
- Analysis of historical cancer death rate trends.
- Economic assessment of anticancer medicine expenditure relative to Gross Domestic Product (GDP).
- Review of public interest considerations in drug development and healthcare policy.
Main Results:
- Cancer death rates among those under 65 have halved in countries like the USA and UK since 1970.
- Anticancer medicine spending is 0.1-0.2% of GDP, and total cancer services spending is around 0.8% of GDP.
- Affordability of cancer treatments is determined by political and economic factors.
Conclusions:
- Further advancements in cancer treatment are feasible in the coming decade.
- Improving drug development efficiency and global access are key goals.
- Public interest necessitates balancing innovation funding with the value of improved treatment outcomes and accessibility.
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