UPDATE: UK 10% drug price cut "speculation," ABPI says
UK 10% drug price cut "speculation," ABPI says
A report that the UK government is planning to cut the National Health Service's prescription drug budget by 10% from a current estimate of about L11.0 billion ($21.88 billion) has been rejected as "speculation" by the Association of the British Pharmaceutical Industry. Alan Johnson, the Secretary of State for Health, was reported in the Financial Times as planning to obtain the price cut in talks over the future of the Pharmaceutical Price Regulation Scheme, which is already under review following a critical report by the Office of Fair Trading (Marketletter August 13, 2007).
The PPRS provides a structure for a five-year price plan for drugs bought by the NHS. Although there is some tension between US drugmakers over the value of the scheme, the position of the ABPI is that "predictability and stability" in drug prices encourages innovative investment in the UK.
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