Precision medicine will increase drug prices and that’s a good thing

Check out my latest article at MedCity News looking at how the advent of precision medicine will affect patients, regulators and payers. The article describes how precision medicine will be good for patients.  Precision medicines will likely be more expensive that regular therapies, but–because they are targeted to more specific populations–aggregate spending on pharmaceuticals could increase…

How to regulate precision medicines

Currently, pharmaceutical treatments that are used in the U.S. need to gain an approval from the FDA.  The FDA’s approval is contingent on a demonstration of efficacy and safety in a randomized controlled trial (RCT).  However, precision medicine makes the standard FDA approval problematic. As described in Breckenridge et al. (2016), in the precision medicine…