The Hidden Cost of Price Controls: Cancer Survival Rate Progress at Risk

According to a recent report from the American Cancer Society, the five-year survival rate for cancer in the United States has significantly improved.

In the mid-1970s, only half of cancer patients would survive five years or more, now seven in 10 survive.

Thanks to technological innovation leading to life-saving cures, cancer survival is increasingly achievable. For cancer patients, these medical innovations add years to their lives. The recent study shows remarkable progress in lung cancer survival. In the mid-1990s, only 20% of patients with regional-stage lung cancer and 7% with distant-stage cancer survived five years. Today, those rates have jumped to 37% for regional-stage and 10% for distant-stage.

Over 2.1 million new cancer cases are projected in 2026. This is a disease that affects so many Americans. That is why it is critical to maintain patient access to the most innovative cures. Barriers and delays in care add unnecessary burden to patients already facing a cancer diagnosis.

To maintain access, it is key for policymakers to support legislation that safeguards patient access and encourages investment and innovation into new cures.

The Inflation Reduction Act's mandated timelines for drug exclusivity are reshaping cancer drug development, according to University of Chicago research. Pills get nine years of market protection while injectables get 11, a gap that's influencing how companies invest in new treatments. Now, less resources are spent on therapies for early-stage cancers, when they are much more treatable.

In addition, the ongoing effort to incorporate the Most Favored Nation pricing model threatens development of life-saving cures and patient access. While other healthcare systems negotiate lower drug prices, aggressive price controls could slow development and limit availability of new treatments in the U.S.

Policymakers can protect both affordability and innovation by refining provisions in the IRA and similar policies that may unintentionally discourage investment in new treatments. This balance is essential to maintaining the gains we've seen in cancer survival.

For more information on these issues, check out:

• University of Chicago Study Reinforces Unintended Consequences of the IRA on Drug Development

• We Work For Health Statement on CMS Release of the MFP for IPAY 2027 Selected Drugs

• What They Are Saying: Voices Against Harmful Drug Pricing Policies

• NEW ANALYSIS: The IRA Impact on Pharmaceutical R&D