29 December 2017 - A new cancer drug that could drastically extend the life of up to 1700 Australians a year waiting for a cure will be made available at a fraction of the cost from Monday.

The groundbreaking treatment for multiple myeloma — a cancer of plasma cells — is among a string of new cancer treatments added to the Pharmaceutical Benefits Scheme from January 1.

Around 550 patients are expected to immediately benefit each year from the subsidised carfilzomib, marketed under the name Kyprolis, which works by reducing the growth of cancer cells and helps boost survival rates for patients.

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