The PPRS caps the profits that companies can make on sales of branded prescription medicines to the NHS. The current scheme ends in September 2004, and the DoH has announced a consultation exercise on its future format.
The ABPI said that this consultation would be a valuable contribution in the period leading up to the start of discussions between the industry and the DoH. The ABPI is conducting a similar consultation exercise among its membership.
In launching the Government's discussion paper on the PPRS, Lord Warner stressed the importance of "a competitive and successful pharmaceutical industry to the UK economy". This contribution is made through:
An annual trade surplus of £2.6 billion, which is the third highest of any UK industry.
A record investment of nearly £9 million a day in the research and development of new medicines.
Direct employment for some 65,000 people, a quarter of whom are graduates, as well as an estimated 250,000 people in service and related industries.
"We have found the current PPRS has balanced the need for NHS prudence with the industry's success in developing new medicines and the UK's science base, and encouraging local and inward investment to the UK by ABPI member companies," said Dr Trevor Jones, Director General of the ABPI.
For further information, please contact: ABPI Press Office 020 7747 1410