American Society of Clinical Oncology Position Statement on Addressing the Affordability of Cancer Drugs

The issue of drug price, particularly in the area of specialty pharmaceuticals, has emerged as a bipartisan concern with both Members of Congress and the Administration. Specialty medications typically include biological products that are often administered by injection or infusion, sometimes require special handling and administration, and are often substantially more expensive than the traditional small molecule drugs.1 Specialty medications accounted for 37% of drug spending in 2015, and projections are that they will account for 50% of all drug spending by 2018.2 Oncology drug pricing is expected to increase at a rate of more than 20% per year for the next several years.3 Healthcare expenditures—including drug costs—have become a major cause of personal bankruptcy, and ”financial toxicity” has become a common term used to describe the financial distress that now often accompanies cancer treatment for patients.