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January 19, 2016.
Italy’s state-run health service is demanding a money-back guarantee when trying new cancer treatments, Bloomsberg Business reports. The Italian Medicines Agency will pay pharma companies according to how well a patient responds to treatment. In some cases, where the medication fails to help, the drugmaker must provide a full refund. Through this method, approximately 200 million euros ($220 million) was refunded to the Italian government for ineffective treatments last year, amounting to about 1 percent of total pharmaceutical spending. With global oncology expected to reach $100 billion in 2018, Bloomsberg adds that Italy's money-back experiment is being monitored in the U.S. and across Europe. http://www.bloomberg.com/news/articles/2016-01-15/when-new-cancer-treatments-fail-italy-wants-its-money-back