Vincent Rajkumar on the High Price of Cancer Drugs

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4.7 • 4.3K Ratings

🗓️ 9 April 2018

⏱️ 73 minutes

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Summary

Can a life-saving drug be too expensive? What explains the high price of cancer drugs? Dr. Vincent Rajkumar of the Mayo Clinic talks with EconTalk host Russ Roberts about the high price of cancer drugs--drugs that can cost an American with cancer $300,000 per year and require multiple years of treatment. Rajkumar explains how little a role market forces play in setting prices and what might be done to improve the situation.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:08.0	I'm your host, Russ Roberts, of Stanford University's Hoover Institution.
0:12.6	Our website is econtalk.org, where you can subscribe, comment on this podcast, and find
0:17.6	links and other information related to today's conversation.
0:20.6	You'll also find our archives where you can listen to every episode we've ever done
0:24.7	going back to 2006.
0:27.0	Our email address is mailadycontalk.org.
0:29.4	We'd love to hear from you.
0:31.2	Today is March 16, 2018, and that happens to be the 12th anniversary to the day of the
0:40.7	release of the first episode of econtalk, which was a conversation about Don Cox and parenting.
0:48.2	On parenting, I know some of you have been listening since that first episode.
0:51.6	There's crazy ones of you have gone back and listened from the beginning, which blows
0:56.7	me away.
0:57.7	I want to thank all of you for listening, even if this is your first episode.
1:03.1	If you do go back to the beginning, 12 years, 600 plus episodes ago, you'll notice that
1:09.2	my interview style has changed over the years.
1:11.3	I hope for the better, but I'm not the best judge of that.
1:15.2	My guest today is Vincent Rushkobar of the Mayo Clinic, where he specializes in my
1:20.2	alumna, which is a blood cancer.
1:22.8	He's currently the editor in chief of blood cancer journal and an associate editor at
1:26.4	the European Journal of Humanitology.
1:29.2	Vincent, welcome to econtalk.
	...

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