In theory, it's a lovely idea that the elderly are treated with respect and dignity. We should say two months of an old person's life might mean they get to go to the wedding of a grandchild. The problem I have is that I don't think that's the motivation for this kind of drug intervention.
Oncologist and epidemiologist Vinay Prasad argues that too many very expensive drugs get approved by the FDA that have very limited impact on the lives of patients. Prasad explains the incentives that distort the current system. The general problem, he explains to EconTalk host Russ Roberts, is the death of duty--too many players in the health care landscape and elsewhere stay quiet or do the wrong thing in order to serve themselves.