"The UK government has sealed a deal with Donald Trump guaranteeing that zero tariffs will remain on the imports of UK pharmaceuticals into the US and commits Britain to higher spending on NHS drugs. The agreement, announced on Monday, secures continued investment by UK pharma companies in the US and will create jobs in the US, the Trump administration said."
"The US would work to ensure that UK citizens have access to latest pharmaceutical breakthroughs, it said, saying it would refrain from targeting UK pharmaceutical pricing practices in any future investigations into the sector for the duration of President Trump's term. The deal calls for the NHS to increase the net price it pays for new medicines by 25%. The deal will also bring changes to a longstanding drugs-purchasing agreement with the NHS, which pharma industry leaders have argued is not competitive, discourages investment and needs reform."
"At the heart of the new UK-US deal is an agreement to lower a so-called rebate under the controversial medicines payment arrangements between drug companies and the NHS. Under the rebate scheme, drug companies are required to make payments to the NHS of between 23.5% and 35.6% of revenue from sales of branded medicines, if the amount the public health service uses is higher than an agreed rate."
The UK secured an agreement with the US guaranteeing zero tariffs on UK pharmaceutical imports and aiming to preserve US investment and jobs. The US committed to facilitate access to pharmaceutical breakthroughs for UK citizens and to refrain from targeting UK drug pricing practices in sector investigations during President Trump's term. The agreement requires the NHS to increase the net price it pays for new medicines by 25% and to change a longstanding drugs-purchasing arrangement viewed as uncompetitive. The deal includes lowering a rebate in the medicines payment arrangements that currently charges companies 23.5%–35.6% of branded-medicine revenue.
Read at www.theguardian.com
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