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NHS medicines bill should rise to preserve UK drug industry, minister says
The NHS will increase the amount it spends on medicines in response to criticism from pharmaceutical companies that the UK is becoming uncompetitive, science minister Lord Vallance has told MPs.
Investments worth close to £2bn have been paused or cancelled this year by three of the world's largest companies, Merck, AstraZeneca and Eli Lilly, amid a fraught negotiation between the industry and government over medicines pricing. Addressing an emergency session of the science, technology and innovation select committee, Lord Vallance acknowledged that low prices historically paid by the NHS, and pressure from US President Donald Trump to cut prices for US consumers, had made the UK less attractive to industry.
Money latest: Tax warning over state pension He said: "I'm deeply concerned that there's been a 10-year decrease in the investment in support for a vital industry; vital for the economy, vital for patients and vital for the NHS at a time when medicines are making a bigger contribution than ever. "I think the NHS will spend a larger percentage of its budget on medicines.
These things are all about trade-offs, and the trade-off that has been made for the last decade has been [to spend] a lower percentage on medicines. "We are now reaping the consequences of that in a very urgent way, and that is what we need now to address." Lord Vallance's comments came after industry executives warned MPs the UK's commitment to the life sciences faces a "credibility challenge.
Amir Nisi
Creative and experienced content writer with 6+ years of experience lazy to create unique content strategy for News5 to turn website visitors into customers.
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