The Government has published the level of payment due from members of the Pharmaceutical Price Regulation Scheme (PPRS) in 2017 to keep health service spend on branded medicines within the levels agreed under the Scheme.
The Department of Health and the Association of the British Pharmaceutical Industry have agreed in principle to amend Chapter 6 of the 2014 PPRS in accordance with paragraph 3.4 of the scheme in order that the scheme continues to deliver its agreed objectives of predictability and stability to Government and industry, and ensuring that the cost of branded medicines to the NHS stays within affordable limits.
Mike Thompson, Chief Executive, ABPI, said:
"We have agreed with the Department of Health that PPRS scheme members will pay a fixed rate in 2017 of 4.75%. In 2018, the payment rate will be no lower than 2.38% and no higher than 7.8%.
In our agreement to this amendment, we are pleased that the Government recognises the additional contribution being made by the pharmaceutical industry in acknowledgement of the current financial challenges facing the NHS."
Notes to editors
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About the ABPI
The ABPI represents innovative research-based biopharmaceutical companies, large, medium and small, leading an exciting new era of biosciences in the UK.
Our industry, a major contributor to the economy of the UK, brings life-saving and life-enhancing medicines to patients. We represent companies who supply more than 80 per cent of all branded medicines used by the NHS and who are researching and developing the majority of the current medicines pipeline, ensuring that the UK remains at the forefront of helping patients prevent and overcome disease.
Globally our industry is researching and developing more than 7,000 new medicines.
The ABPI is recognised by government as the industry body negotiating on behalf of the branded pharmaceutical industry for statutory consultation requirements including the pricing scheme for medicines in the UK.