You Can’t Afford to Have Cancer
October 16th, 2011Provenge is a new treatment for prostate cancer and is one of the new generations of cancer fighting drugs that uses “autologous cellular immunotherapy” - which, regardless of the science behind it, sounds impressive.
This uses the body’s own immune system, or “your own immune cells that have been trained to seek and attack prostate cancer cells” to quote the website. It is the product of work such as that done by Ralph Steinman (see post A Laureate’s Successful Failure) and the brave new world of cancer vaccines.
Should be wildly successful and making the manufacturer (Dendreon) rich wouldn’t you think?
But Dendreon stock has been more lead balloon like than my retirement portfolio in the last month. It has dropped by 67.4%.
Poor promotion, out of control overhead have been charges leveled. But one of the big issues is, even though Medicare has recently opted to cover Provenge, it costs $93,000 for a course of treatment.
It is a prime example of what we can’t afford.
I guess if I was the one with the prostate cancer, this may be an expensive straw I would want to grasp at. But society as a whole - a society that is going bankrupt, in large part because of the cost of medical care, which in turn is costing so much because all these clever researchers are coming up with ever more fancy, expensive treatments - cannot afford it. Or not unless they are willing to pay an ever larger proportion of GDP toward healthcare (The prediction of the Congressional Budget Office is that just federal spending on Medicare, Medicaid and other medical stuff is going to escalate from 5.5% to 12% of GDP by 2050).
Someone, somehow has to put a lid on it.
It’s called “rationing” - or “death squads” if you want to be emotive.
And when there’s a treatment available that has the potential to save someone’s life, it’s very hard to tell them “no, sorry”.
I wonder what would happen if you told all the researchers their main goal was not innovation, but cheap treatments?
