Cancer diseases are becoming a significant burden worldwide. More people are living into old age and dying of chronic non-communicable diseases such as cancer, heart and respiratory diseases. According to the World Health Organization GLOBOCAN project, there were 14.1 million new cancer cases, 8.2 million cancer deaths and 32.6 million people living with cancer (within 5 years of diagnosis) in 2012 worldwide. 57% (8 million) of new cancer cases, 65% (5.3 million) of cancer deaths and 48% (15.6 million) of 5-year prevalent cancer cases occurred in developing regions.
Cancer diseases are some of the most expensive diseases to treat and one of the major global health challenges for both developed and developing economies. The expensive price tags have become routine. Innovative cancer treatments carry costs that have led to major disparities in accessing drugs between countries. The majority of cancer patients in developing countries have yet to benefit.
Innovation that can make treatment available to cancer patients is of little use if it is stymied by monetary cost. There is still a great need for more innovative treatment, but the current innovation system is failing. A new approach is needed.
In seeking a solution to address the issue of the rising cost of cancer drugs, the panelist will provide insights into key research, medical and bioethical issues brought about by the escalating prices of cancer drugs.
Can we truly put a price on saving a life? The 'Quality vs. Quantity’ debacle: expensive cancer drugs only prolong life for a few months. Is it medically and socially acceptable to spend so much money to extend life by such a short period of time? Should there be a requirement for a minimum or reasonable margin of benefit before regulating authorities such as the FDA can grant approval? India, commonly known as the pharmacy of the developing world, intellectual property ecosystem is not very encouraging as it is embroiled with persistant complaints from the global drug manufacturers who claim India has made a mockery of their drug patents by not recognizing innovation. How would systematic disregard of intellectual property protection standards influence innovation and affect profitability? Is India's actions a moral case? Or legalized infringement of property rights? Should citizens of developing countries have access to the same drugs available in developed countries for a lower price? Some pharmaceutical companies have considered tiered pricing – a system in which a drug is offered at different costs depending on the level of development of where it is being sold.
“Medicine is for the people…. not for the profits”
-George W. Merck 1950, Founder of Merck
