CANCER DRUGS COULD BE MUCH CHEAPERCANCER DRUGS COULD BE MUCH CHEAPER"Lilly's Risky Rush into Cancer Drugs" (What's Next, Oct. 20) perpetuates the myth that cancer drugs "have long enjoyed considerable pricing power Pricing Power An economic term referring to the effect that a change in a firm's product price has on the quantity demanded of that product. Pricing power ties in with the "Price Elasticity of Demand. because they are so difficult to develop." Cancer drugs are often cheaper to develop: When a drug is aimed at a terminal illness, FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval is typically much swifter, with smaller clinical trials and a greater acceptance of side effects Side effects Effects of a proposed project on other parts of the firm. . Patients and insurers pay unsustainable and unjustifiable prices for drugs that could be sold profitably for a fraction of the current price because these treatments offer hope. Chris Doecke Director, Pharmacy Services Royal Adelaide Hospital The Royal Adelaide Hospital is Adelaide's largest hospital with over 700 beds. Founded in 1840, the Royal Adelaide provides tertiary health care services for South Australia and provides secondary care clinical services to residents of Adelaide's inner city. ADELAIDE, AUSTRALIA 
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