Several strategies are being explored to manage and potentially reduce cancer drug prices. One approach is to increase competition from generics and biosimilars. Once patents expire, these alternatives can enter the market at lower prices, providing more affordable options for patients.
Another strategy is value-based pricing, where the cost of a drug is tied to the outcomes it delivers. By focusing on the effectiveness and benefits of a drug, this model aims to ensure that prices reflect the true value to patients and healthcare systems.
Policymakers are also considering regulatory reforms to promote transparency in drug pricing and reduce unnecessary costs in the supply chain. Such measures could help ensure that pricing practices are fair and that savings are passed on to consumers.
