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Found 1 Presentation For Request "1593P"
1593P - Prices and price developments of cancer drugs in the US and Europe
- Kerstin N. Vokinger (Zurich, Switzerland)
Abstract
Background
Cancer drug costs are rising in the US and Europe. While drug manufacturers set prices without restriction in the US, European countries have regulations that allow national authorities to directly negotiate drug prices at launch and over time. We analyzed and compared the launch prices and price developments of cancer drugs in the US, Germany, Switzerland and England.
Methods
We identified new drugs indicated to treat solid tumors in adults that were FDA-approved between 2009 and 2019 and had also been approved by the EMA and Swissmedic by 31 December 2019. Launch prices and post-launch price changes as of 1 January 2020 were extracted and adjusted to average sales prices for monthly treatment costs in the US and compared to monthly treatment costs in Germany, Switzerland, and England. A cross-sectional analysis was conducted to infer yearly trends in launch prices and post-launch price changes across the countries.
Results
The study cohort included 50 drugs for solid tumors, of which 47 (94%) drugs were first approved in the US compared to Germany and England, and 46 (92%) to Switzerland. Average launch prices for monthly treatment costs per patient were $15,170 in the US vs. $7,863 in Germany, $7,736 in Switzerland and $7,980 in England, i.e., 193% (interquartile range [IQR] 208%-208%), 196% (IQR 163%-210%) and 190% (IQR 155%-230%) higher in the US compared to Germany, Switzerland and England respectively. Post-launch prices of 42 (89%), 47 (98%), and 43 (90%) drugs decreased or stayed the same over time with total savings of monthly treatment costs for all drugs in the study cohort of $98,459, $64,185, and $36,539 in Germany, Switzerland, and England respectively. By contrast, prices of 10 (20%) drugs decreased or stayed the same, while 40 (80%) increased post-launch in the US with total additional expenses of $240,960 for monthly treatment costs.
Conclusions
Launch prices for cancer drugs are higher in the US than in Europe. These price disparities continue to increase substantially after market entry since cancer drug prices, in general, decrease over time in Europe and increase in the US. Spending on cancer drugs could be reduced in the US if it adopted the principles used to more effectively negotiate drug prices in Europe.
Legal entity responsible for the study
K.N. Vokinger.
Funding
Has not received any funding.
Disclosure
All authors have declared no conflicts of interest.