ASCO Offers Path to Addressing Affordability of Cancer Drugs in New Position Statement

Excerpt:

“The American Society of Clinical Oncology (ASCO) today issued a position statement aimed at contributing to the national dialogue on rising cancer drug prices. The statement, which asserts that any solutions must also preserve patients’ access to care and foster innovation, analyzes a wide array of options and recommends that a panel of stakeholders be established to determine which proposals will be effective and develop a uniform approach for assessing the value of drugs.

“The ASCO position statement highlights that new cancer drugs routinely cost more than $100,000 per year, and prices on many existing treatments continue to rise, causing serious financial hardship even for many patients with insurance. Patients with cancer are more than twice as likely to declare bankruptcy as those without cancer;  nearly six in 10 report being distressed about their finances during treatment.  Many patients forego or delay treatments as a result, potentially compromising their effectiveness. Drugs are the fastest growing component of cancer care costs, which are expected to increase by more than 25 percent between 2010 and 2020.”

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