UK Planning To Raise Industry Repayments Under Statutory Pricing Scheme
The UK government says that payments need to rise if the stability of the statutory and voluntary drug pricing schemes is to be ensured.
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The ABPI, which represents the R&D-based pharmaceutical industry in the UK, says the proposed increase in the statutory scheme rebate sends "the worst possible signal" to global investors and boardrooms.
Lilly says the current voluntary drug pricing and access scheme has harmed innovation and left the UK a “global outlier” among major countries, while AbbVie asserts that this year’s repayment rates of 26.5% will impair its ability to operate sustainably in the country. The industry body, the ABPI, says it will come up with proposals for a “completely new settlement” in the coming months.
The pharmaceutical industry is calling on the government to take steps to restore the UK as a location for life sciences investment and recognize the role of competition in the branded generics market, but it will need strong evidence to make the most convincing case.