EconTalk

Vinay Prasad on Cancer Drugs, Medical Ethics, and Malignant

Apr 20, 2020
In a deep dive, Vinay Prasad, an oncologist and author, unpacks his book *Malignant*, shedding light on the disappointing realities of cancer drugs. He highlights the conflicts of interest in pharmaceutical pricing and the limited effectiveness of many approved treatments. Prasad critiques the U.S. healthcare system's focus on cost over true patient value and explores ethical dilemmas in medical research and drug approval. His call for reforms emphasizes the need for transparency and integrity to enhance patient trust and outcomes.
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INSIGHT

Cancer Drug Value

  • Cancer drugs often provide marginal benefits at high costs, resulting in poor value.
  • A study found the median overall survival improvement from new cancer drugs is 2.1 months, yet they cost thousands monthly.
INSIGHT

Healthcare Trade-offs

  • While life is precious, healthcare spending involves trade-offs.
  • Paying for marginally beneficial cancer drugs diverts resources from more effective treatments.
INSIGHT

Counterfactual Impact of Drugs

  • It's impossible to know the exact counterfactual impact of a drug on an individual's survival.
  • Median survival improvement figures don't reflect individual variation or real-world outcomes.
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