Personalized Medicine’s Perverse Economics
LONDON – Does personalized medicine cut the mustard when it comes to treating cancer? Richard Smith, a former editor of the British Medical Journal, believes that it does not. Using the mustard metaphor, he shows how personalized medicine undermines the pharmaceutical industry’s profits. If the one-size-fits-all approach to prescribing cancer drugs were abandoned, drug companies would be forced to change their business model, most notably by increasing prices radically – or stop producing the drugs altogether.