Benefit ratings are based on Health Technology Assessments and reflect the added (health) benefit of a treatment versus a defined comparator. This study assessed the correlation between the price premium or discount (relative to that of a defined comparator) and the benefit rating for oncology products in France and Germany. A value-based pricing approach would assume that products with a higher benefit rating would be associated with a higher price premium and a lower rating with a discount or lower premium. The study goal was to confirm or reject this hypothesis. An assessment of the first launched oncology indication with a decision date from 2015 through 2019 was conducted. Annual treatment costs were calculated based on the list price in France and the post-AMNOG price in Germany. Price premia or discounts were calculated over the highest-priced comparator defined by HAS and G-BA, respectively. The average price premia for oncology products in France per ASMR score are 28% for ASMR III, 6% for ASMR IV, and 40% for ASMR V. No products received an ASMR I or II score. The average price premia for oncology products in Germany per benefit score are 62% for considerable added benefit, 44% for minor added benefit, and 29% for no added benefit. The price premium for non-quantifiable added benefit in Germany is 61%, a category which predominantly includes oncology products with orphan drug status. A wide range of price premia and discounts was observed within each benefit rating category. There appears to be a positive correlation between price premia and benefit ratings for oncology products in Germany, albeit with significant price ranges within each rating category. A similar correlation could not be concluded from the data in France, which suggests that other factors beyond the benefit rating are considered during the pricing and reimbursement process.