Soaring Drug Prices – A Major Problem towards Cancer Cure

The rising cost of cancer cure in the form of increased costs of new cancer drugs, reduced reimbursement by insurance plans and recent research indicating that cheaper generic drugs can work well or better than the expensive brand name medications is changing the stance of some top oncologists. Physicians are of the view that the cost of the drug is important especially in cases where high quality can be obtained at lower costs.

Oncologists in the United States are attempting to come to terms with enormous expense of cancer drugs that can cost up to $100,000 per annum per patient. It is estimated that the U.S. spending on oncology drugs and their administration is expected to rise by more than 20% annually for the next few years and may reach $173 billion by 2020.Drug makers meanwhile stress that their products despite of high price labels saves costs by reducing the need for supportive medications or even keeping the patients out of the hospital.

 

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