The decision by the Office of Fair Trading to extend its study of the Pharmaceutical Price Regulation Scheme (PPRS) has been noted by the Association of the British Pharmaceutical Industry (ABPI).
“Although we continue to question the rationale and timing for the study, we do not find it particularly surprising that the OFT should want to examine aspects of the PPRS in greater depth, given its complexity,” said Dr Richard Barker, Director General of the ABPI today.
“In our future discussions with the OFT, we shall emphasise the case for stability in the UK market environment, while acknowledging that the scheme is not perfect. We look forward to co-operating with the OFT in its search for improvements that might meet the Government’s goals for the scheme to an even greater extent.”
However, the ABPI pointed out that the PPRS has delivered on Government and industry objectives over a long period, and a radical overhaul could fundamentally undermine the reputation for stability that has underpinned the UK’s attractiveness as a location for global research and development investment.
“We welcome the OFT’s acknowledgement of the need to offer appropriate incentives for pharmaceutical companies to continue researching and developing innovative medicines, and would also welcome any initiatives to make the UK an even more vibrant location for the global pharmaceutical industry,” said Dr Barker.
For further information, please contact: ABPI Press office: 020 7747 1410