Monday Lunch Livestream

Cancer pharmaceutical-economics: rip off or fair play?

05 June 2023

A thought-provoking presentation from international speaker Associate Professor Nathan Cherny on the data and factors that can be used to evaluate the fairness and justifiability of drug prices in the context of cancer treatments.

Associate Professor Cherny examines aspects such as innovation, healthcare systems, budget impacts, ethical considerations and more.

Cancer Pharmaceutical-economics examines the economic aspects of cancer treatments, including the costs, benefits, and outcomes associated with various therapies. It involves assessing the value and cost-effectiveness of cancer drugs, considering factors such as survival rates, quality of life, and healthcare resource utilisation.

Delve into the complex world of cancer drug pricing and its impact on patients and healthcare systems with Associate Professor Nathan Cherny of Shaare Zedek Medical Center in Jerusalem, Israel.

A/Prof Cherny provided a comprehensive framework to explore whether current drug pricing is fair or exploitative.

This session covered:

• the exponential rise in drug prices over the last 40 years: a reward for innovation, or exploitative profiteering?
• innovation in cancer care and the motivations driving it
• the impact of the unique dynamics in the United States healthcare system, which have contributed to the soaring prices of cancer drugs
• financial aspects and sustainability of drug pricing, including concepts of fair pricing including ethical and advocacy considerations
• the effects of low-value medicines and the potential harm caused by policies that prioritise profit over patient benefits.

Presenter

Associate Professor Nathan Cherny
Chair of ESMO Magnitude of Clinical Benefit Working Group, Norman Levan Chair in Humanistic Medicine, Oncologist and Director of Palliative Care at Shaare Zedek Medical Center, Jerusalem, Israel

Associate Professor Nathan Cherny is an Australian-born and trained medical oncologist and palliative care physician who has been working at the Shaare Zedek Medical Center in Jerusalem since 1994. He has an active practice in general oncology and oncologic palliative care. A/Prof Cherny is currently the Chair of the ESMO Magnitude of Clinical Benefit Working Group, former chair of the Palliative Care Working Group and current member of the ESMO guidelines steering committee and cancer medicine policy working group.