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12:00 AM
 | 
Nov 08, 2004
 |  BioCentury  |  Politics, Policy & Law

The U.K. price deal

Britain's pharmaceutical industry is putting its best face on a 7% cut in the price of drugs sold to the National Health System, as a result of pricing negotiations that are held every five years in the U.K. The argument is that the scheme provides secure conditions for five years, along with incentives for R&D.

The last Pharmaceutical Price Regulation Scheme (PPRS) agreement in 1999 resulted in a price cut of 4.5% and capped profits on branded medicines at 21%. Indeed, according to the Association of the British Pharmaceutical Industry (ABPI), the average profit margin in the last five years has been about 17%, while branded drug prices have fallen about 15% in real terms over the last 10 years.

According to ABPI President...

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