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Why Are Cancer Drugs So Expensive?
The high cost of cancer drugs is related to a number of factors. It is very very expensive to move findings from bench to bedside and to perform all the regulatory studies (from phase 1, 2, and 3 clinical trials) to gain approval. Second, even when the monopoly is broken with the arrival of 'new and improved' versions of an approved drug, the older drug (and by now generic) tends to be viewed as substandard treatment, thereby perpetuating the situation. Third, the very nature of cancer, and the seriousness of the diagnosis, plays a role in that patients and physicians are often willing to pay the high price of treatment even for marginal improvements in outcome. Finally, because most cancers are incurable, patients are treated with each approved agent creating a virtual monopoly because the use of one drug does not automatically mean that the others are no longer needed.