Backlash warned as feds slash drug bill

Medicare took a look at what they say hospitals have been paying for the new biologics that treat non-Hodkin's lymphoma and decided to slash what it will pay for Bexxar and Zevalin to $16,000 per treatment. That may sound like a lot, but it's only slightly more than half of the companies' sticker price. And it's far off the $50,000 mark of many new cancer drugs. GlaxoSmithKline and Biogen Idec, which market the drugs, say that Medicare has its numbers all wrong. They also warn that a host of hospitals are likely to stop offering the treatments rather than run the risk of taking a steep loss on each patient.

- check out the article from The New York Times

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