March 30, 2011, 4:48 pm

Medicare Says It Will Pay for Expensive Prostate Drug

By ANDREW POLLACK

Updated: Medicare announced on Wednesday that it would pay for Dendreon’s prostate cancer drug Provenge, whose $93,000 price tag had ignited debate about the cost and effectiveness of cancer drugs.

The Centers for Medicare and Medicaid Services said in a memo posted on its Web site that Provenge was a “reasonable and necessaryâ€