Revolution Medicines set a sticker price of $480,000 per year for its new pancreatic cancer drug Rasonque, reflecting a new normal for oncology pricing. In 2024 alone, nine cancer drugs were approved with annual costs exceeding $400,000, according to the Institute for Clinical and Economic Review. This shift marks a dramatic change from two decades ago, when even $100,000-a-year drugs sparked fierce debate.

While competitors like CAR-T therapies reach $600,000 for one-time infusions, daily pills for gastrointestinal and leukemia cancers carry price tags of $520,000 and $430,000 respectively. Despite the steep costs, Revolution Medicines' drug has shown clinical benefit, prolonging median survival to 13.2 months versus 6.7 months with chemotherapy in advanced pancreatic cancer patients. Stacie Dusetzina, a health policy professor at Vanderbilt University, notes the drug offers substantial benefits over existing treatments, though patients typically remain on therapy for a median of six months due to toxicity or disease progression.

The expense is borne by Medicare, employers, and patients, with uninsured individuals potentially receiving the drug for free based on financial criteria. Employers have identified cancer as the top disease category driving medical expenses for five consecutive years. The high prices aren't limited to drugs treating small patient populations, as multiple myeloma patients now routinely receive three or four therapies simultaneously, further compounding system-wide costs.