We have more cancer drugs than we know how to pay for
That’s the takeaway from a new report from IQVIA, which pointed out two record-setting stats from 2018: There were more new treatments than ever before, and the world spent unprecedented money to buy them.
Last year saw 15 new cancer drugs marketed around the world, and the pipeline of treatments in late-stage development grew by 19% over 2017. Meanwhile, the amount spent on cancer medicines reached nearly $150 billion in 2018, up about early 13%. That’s the fifth consecutive year of double-digit growth, according to IQVIA.
“The good news is the advances in science are triggering this huge increase in clinical trial activity and the pipeline and number of companies that are pursuing innovative treatments,” said Murray Aitken, executive director at the IQVIA Institute. But “the number of new products being launched well exceeds the capacity of payers to reimburse all of these new drugs.”