New approach needed to tackle rising drug prices

The proliferation of high-cost medicines and rising drug prices are increasing pressures on public health spending and calling into question the pharmaceutical industry’s pricing strategies.

According to a new report from the OECD, ‘ New Health Technologies: Managing Access, Value and Sustainability’, pharmaceutical spending is increasingly skewed towards high-cost products. The launch prices of drugs for cancer and rare diseases are rising, sometimes without a commensurate increase in health benefits for patients. For instance in the United States the launch price of oncology drugs per life-year gained has been multiplied by four in less than 20 years and now exceeds $200,000.

For more information on Pharmaceutical Price Rises on the oecd.org website