Stock Ticker

  • Loading stock data...

Pfizer Inc. (NYSE:PFE) Funds Study On Expenditure On Cancer Drugs

Boston, MA 10/15/2013 (wallstreetpr) – According to a research, 126 billion Euros ($171 billion) were spent on cancer drugs in the year 2009. This was established by researchers based in United Kingdom. The research might be helpful to the cancer research officers who might find themselves better equipped with information on cancer and in fighting the disease. At the same time, 40% or 51 billion Euros were spent on health care as a whole. According to a study conducted by the giant drug maker Pfizer Inc. (NYSE:PFE), around 13.6 billion Euros were spent on medicines and drugs where as a lot of miscellaneous expenditure was lost on account of productivity.

A professor at King’s College London mentioned in his reports that the biggest amount spent on drugs is for cancer. The 27 member union, in its first study, said that its work may be useful for policy makers in the better allocation of money and an improved system may be delivered to achieve results.

The European Union has reportedly spent around 102 Euros per person on the health and care of cancer related patients. On the other hand, $255 per person was spent by the United States. As far as per person spending is concerned, the countries like Luxembourg and Germany top the list. On the other side, Lithuania and Bulgaria are the lowest spenders on the well being of cancer patients. The greater spenders of the union were from the more long remaining members of the union. The countries which joined the union later in 2004 spent less on cancer patients, per person.

According to the rest of the world, Europe is the group of the countries which concern themselves with the care of cancer patients in the same proportions. However, this is not the reality. Big differences lie in per person spending and the cause of cancer as taken up by the individual countries. Germany spent the highest in its per person spending on cancer patients. Mr. Sullivan is said to be researching further on the topic.

Published by Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

Recent Stories

SignUp Now For Our Featured Newsletter