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| Medicare to pay for cancer drug |
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Medicare to pay for cancer drug
WASHINGTON – Medicare officials said Wednesday that the program will pay the $93,000 cost of prostate cancer drug Provenge, an innovative therapy that typically gives men suffering from the disease an extra four months to live. The Centers for Medicare and Medicaid said the biotech drug made by Dendreon Corp. is a “reasonably and necessary” medicine. The decision ensures that millions of men would be able to afford the drug through the government-backed health care coverage. With government reimbursement, analysts estimate Provenge could rack up $1 billion in sales next year. The decision will be finalized by June 30. Medicare cannot consider price when deciding whether to pay for a new treatment. |
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