ABPI comment on UK-US trade agreement

The UK government has announced a trade agreement with the US.

The UK-US Economic Prosperity Deal was agreed on Thursday 8 May with further details released on Friday 9 May UK time.

Responding to the news, Richard Torbett, ABPI Chief Executive said: “We thank the government for its continued efforts that have led to this essential first-step agreement with the US.

“Although this initial deal is only a first step for pharmaceutical products, we remain convinced that reaching a favourable outcome remains possible and in the interests of both countries. Free trade between the UK and the US is critical to supply chain resilience, ensuring patients in both countries have access to the medicines and vaccines they need. US tariffs on UK pharmaceuticals run counter to that goal and should be avoided.

“The UK and U.S. are leading partners in life science innovation with deeply interconnected research networks and supply chains that work for both countries. We will work with UK and US officials to support them in reaching an agreement which allows our sector to flourish in both countries.”

“We will also continue our discussions with the UK government to ensure Britain’s life science sector can return to international competitiveness to enhance UK attractiveness as a destination for inward investment.”