Friday, December 20, 2013

ABC examines Bristol Myers-Squibb's cancer drug pricing plan: go bankrupt or die

From the piece: A cancer diagnosis doubles your chance of going bankrupt in no small part because cancer drugs have doubled in price in the last decade; 11 of 12 drugs approved by the FDA in 2012 for fighting cancer cost more than $100,000 per year.
     Sprycel, a Bristol Myers-Squibb leukemia drug which turns a fatal condition into a chronic one, costs $106,000 per year and has doubled in price since 2007; many of the more expensive cancer drugs cost twice in the U.S. what they do overseas.
     100 cancer specialists — doctors — are protesting, demanding that drug companies lower their prices. Critics say pharmaceutical companies are inflating the cost of developing new drugs by a factor of 10.

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