Why Are 42% of US Cancer Patients Draining Their Life Savings in Two Years? Bernie Sanders Has a $400,000 Answer
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.
Sen. Bernie Sanders(I-VT) expressed his concern over the financial burden of cancer treatment in the U.S., attributing it to the high cost of new drugs.
Sanders took to Xto talk about the financial strain cancer patients face due to the high cost of new cancer drugs. He pointed out that 42% of cancer patients in America deplete their life savings within two years of diagnosis.
"Well, maybe it has something to do with the greed of Big Pharma charging over $400,000 for new cancer drugs," he wrote.
Sanders called the high cost of cancer treatment in the U.S. "insane," arguing that getting cancer should not force Americans into financial ruin or bankruptcy.
Don't Miss:
-
Think Your 'Safe' Stocks Protect You? You're Ignoring the Real Growth Triggers — Here's What to Add Now
-
Caught With Nothing Saved for Retirement? These 5 Game‑Changing Tips Could Still Save You
The lawmaker did not provide the source for the 42% statistic. However, a 2018 study in The American Journal of Medicine found that 42.4% of adults with a new cancer diagnosis had depleted their entire net worth within two years, with average losses of about $92,098. The analysis used Health and Retirement Study data from 1998–2014 and estimated outcomes across roughly 9.5 million cancer diagnoses.
Wanna know why 42% of cancer patients in America deplete their life savings within 2 years?
Well, maybe it has something to do with the greed of Big Pharma charging over $400,000 for new cancer drugs.
That's insane. Getting cancer in America shouldn't cause you to go bankrupt.— Sen. Bernie Sanders (@SenSanders) September 1, 2026
New Cancer Drug Raises Price Concerns
Sanders' post came in the wake of the FDA approval of a new oncology therapy by Revolution Medicines Inc.in late August. The pancreatic cancer drug, Rasonque, is the first approved targeted therapy from a new class of broad RAS-selective inhibitors and has shown significant efficacy in clinical trials.
Trending: Think you're saving enough for your kids? You might be dangerously off — see why
Rasonque reduced the risk of death by 60% versus traditional chemotherapy in the ITT cohort. Patients receiving the targeted therapy had a median overall survival of 13.2 months versus 6.7 months with chemotherapy. It also nearly doubled progression-free survival, reaching 7.2 months compared with 3.6 months for the chemotherapy group.
According to a report by the New York Times on Monday, Revolution Medicines priced its new pancreatic cancer drug at about $480,000 annually, reflecting a broader trend of soaring cancer drug costs. Several treatments now carry price tags of $400,000 to $600,000, including CAR-T therapies and daily cancer pills. In 2024, nine newly approved cancer drugs launched with annual sticker prices exceeding $400,000, according to the Institute for Clinical and Economic Review.
Meanwhile, cancer drugmakers argue that high prices reflect breakthroughs that have turned some deadly diseases into manageable chronic conditions or even cures. They also say smaller drug companies need higher prices to recover the substantial costs of developing treatments and conducting expensive clinical trials.
Photo courtesy: Shutterstock
Read Next:
-
Still Learning the Market? These 50 Must-Know Terms Can Help You Catch Up Fast
Building Wealth Across More Than Just the Market
Building a resilient portfolio means thinking beyond a single asset or market trend. Economic cycles shift, sectors rise and fall, and no one investment performs well in every environment. That's why many investors look to diversify with platforms that provide access to real estate, fixed-income opportunities, precious metals, and even self-directed retirement accounts. By spreading exposure across multiple asset classes, it becomes easier to manage risk, capture steady returns, and create long-term wealth that isn't tied to the fortunes of just one company or industry.
Arrived
Backed by Jeff Bezos, Arrived Homes makes real estate investing accessible with a low barrier to entry. Investors can buy fractional shares of single-family rentals and vacation homes starting with as little as $100 . This allows everyday investors to diversify into real estate, collect rental income, and build long-term wealth without needing to manage properties directly.
Qnetic
As electricity demand rises alongside AI, data centers, and renewable energy, long-duration energy storage is becoming increasingly important. Qnetic is developing a kinetic energy storage system designed to provide long-lasting, chemical-free electricity storage , offering investors exposure to the infrastructure supporting a more resilient and reliable power grid.
EquityMultiple
For accredited investors looking beyond stocks and bonds, EquityMultiple provides access to vetted commercial real estate deals starting at $5,000 , with only ~5% of opportunities passing their due diligence process.
FarmTogether
Farmland has historically held its value through market volatility and delivered returns uncorrelated to stocks and bonds. For accredited investors, FarmTogether offers direct access to high-quality U.S. farmland starting at $15,000 — fully managed, with no landlord headaches.
Fundrise
Private real estate and private credit can add income and stability to a stock-heavy portfolio. Fundrise offers access to diversified private real estate and credit strategies through an easy-to-use platform, with professionally managed portfolios designed to generate passive income and long-term growth.
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
