2 November 2022 - The annual price of a newly-launched cancer drug in the United States averaged $283,000 last year, a 53% increase from 2017, according to a new report from US Democratic Representative Katie Porter, a consumer bankruptcy law professor running for re-election in California.

Cancer is the second leading cause of death in the United States, oncology treatments are nearly four times as costly as other therapies and are largely paid for by taxpayer-funded programs like the government's Medicare plan for people over age 65, the report notes.

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