OBJECTIVES: Anastrozole provides a treatment alternative for patients with EBC who cannot tolerate tamoxifen or in whom the drug is contraindicated. This study aimed to examine the value patients place on the ability of a treatment to decrease the risk of breast cancer recurrence and mortality, while considering the side effect profile of the treatment. METHODS: A total of 85 women aged 50–83 (mean 61) years were recruited from the Australian general public. Participants completed questions regarding breast cancer experience and undertook a discrete choice task. The attributes used in the WTP scenarios included values for risk of breast cancer recurrence, mortality, hot flushes, vaginal abnormalities, deep vein thrombosis (DVT) and fracture, and also cost. The risk estimates against placebo were derived using indirect comparisons. RESULTS: A total of 74 subjects provided evaluable data. Eleven subjects were excluded because they were non-traders (3) or irrational in their choice task. The total WTP for anastrozole over placebo was AUS$906.00 per month (95% CI: 380.7–1548.7) for 4 – 5 years. This included a WTP of AUS$794.20, AUS$481.70, AUS$38.20 and AUS$32.10 for the reduced risk of breast cancer recurrence, mortality, hot flushes and vaginal abnormalities, respectively. For DVT and fracture, which favoured placebo, negative WTPs of –AUS$316.00 and –AUS$124.20, respectively, were obtained. CONCLUSIONS: Subjects were willing to pay an average of AUS$906.00 per month for 4 – 5 years for access to a treatment with the attributes of anastrozole. The reduced risk of breast cancer recurrence and mortality were the main drivers for the treatment; however, increased risk of fracture and DVT were also of concern to participants.