Companies Planning UK Investment Cuts Over Repayments Predicted for 2023
Many pharma firms are considering cutting their investment in clinical trials or reducing their supply to the UK market next year, a survey by industry group EMIG found.
You may also be interested in...
In 2022, a total of five companies chose to exit the UK’s voluntary scheme that manages branded medicines spending. The departure of two big firms – AbbVie and Lilly – is seen as a deliberate tactic to send a clear signal to government that the scheme is not working for industry and is jeopardizing investment and access to medicines in the UK.
The current UK approach to drug pricing and access is "broken," and early talks with the government next year will be necessary to set out a "completely new future settlement," the pharmaceutical industry has warned. By contrast, the government claims that the pricing scheme is working as intended.
Generics and biosimilars manufacturers and patients should have greater influence on UK pricing scheme negotiations.