Value-Based Pricing's Slow Progress In U.K. Worries Industry
With eighteen months until the start of a new drug pricing scheme, the slow progress and lack of detail on the U.K.'s value-based pricing (VBP) approach worries industry and suggests transitional arrangements may be necessary.
You may also be interested in...
An influential parliamentary committee has called on the U.K. to reveal its plans for value-based pricing by the end of March so that companies, clinicians and patients can adjust to the change, which is expected to start in 2014.
Europe was a tough market for the drugs industry in 2012, with governments imposing austerity measures and price cuts on medicines that hit companies hard. The euro survived, preventing further disruption of the marketplace, but little respite is expected in the next 12 months for patients and companies alike from clampdowns on health care spending in general, and medicines reimbursement in particular.
Negotiations will start in September 2012 on a value-based pricing approach for new medicines in the U.K., and on a new PPRS scheme for currently marketed drugs, with a new suggestion: oncologics previously rejected by NICE might be reviewed again under the new VBP system.