Here is the scenario; You are 70 years old and suffering from advanced prostate cancer. The doctor tells you that you have 22 more months to live, but if you pay $75,000, you could live for 26 months instead of 22 months. An additional 4 months.
What would you do?
Spend the $75,000 enjoying the next 22 months or pay $75,000 to prolong you life to 26 months?
If you are wondering what this is about, the Food & Drug Administration has just approved Provenge vaccine for treatment of advanced prostate cancer. The first in it's kind therapy, is expected to cost patients $75,000. Only that, medical insurance companies will have to foot the bill for most of the patients.
If you prefer to read deeper than the headlines, you can dive into the company's data presentation so as to get a better perspective of the drug.