"The Trump administration's position on drug prices is that Americans pay too much while other countries don't pay nearly enough. A new trade deal with the United Kingdom is addressing that imbalance, raising prices the national health system will pay for new medicines in exchange for tariff exemptions on U.K. pharmaceutical exports valued at about $3.5 billion a year. The deal announced Monday is an update to a broad trade deal the U.S. struck with the U.K. in May."
"The new agreement boosts the cost-effectiveness standard by 25%, raising it to £25,000 to £35,000. It's the first major increase in this threshold in more than 20 years, the U.K. government said in its own announcement of the deal. NICE said it approves about 91% of the drugs it evaluates, amounting to about 70 new drugs annually. The agency calculates that the threshold could lead to three to five additional approvals each y"
The trade agreement between the United States and the United Kingdom ties tariff exemptions for U.K. pharmaceutical exports (about $3.5 billion annually) to higher prices the NHS will pay for new medicines. The pact updates an earlier May deal and establishes a precedent for future pharmaceutical negotiations. The NHS requires NICE evaluation of a drug's cost-effectiveness measured in cost per quality-adjusted life year, previously £20,000–£30,000. The agreement increases that threshold by 25% to £25,000–£35,000, the first major rise in over two decades. NICE currently approves roughly 91% of evaluated drugs (about 70 annually); the higher threshold could yield three to five additional approvals each year.
Read at MedCity News
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