A pharmaceutical firm has developed two new drugs, the first for the treatment of cholesterol, and the second for the treatment of childhood cancer. The Health Service Executive (HSE) is considering its budget allocation for the upcoming year and must decide whether or not to reimburse (i.e. provide public funding for and patient access to) these new drugs. The HSE's health economist reviews the data on the costs and the health outcomes in terms of Quality Adjusted Life Years (QALYs), for the new drugs and compares these data directly to the existing drugs available in Ireland. The health economist estimates the incremental cost effectiveness ratios (ICERs) for the new drugs to be E60,000 per QALY gained for the cholesterol drug and (100,000 per QALY gained for the cancer drug. The HSE employs a cost effectiveness threshold value of 645,000 per QALY gained for its decision making process. Based on this information, is it likely that the HSE will approve the drugs? Give reasons for your