Pharma Giants Demand Change: UK Slammed for Drug Prices
Eli Lilly's CEO, Dave Ricks, criticized the UK's drug pricing and rebate policies, suggesting they hinder pharmaceutical investment. With companies like Merck and AstraZeneca scaling back UK operations, Ricks argued that the UK's approach could limit access to new drugs. The government remains in negotiations over the VPAG scheme.
Dave Ricks, CEO of Eli Lilly, has labeled Britain as the worst in Europe for drug pricing. In his interview with the Financial Times, he highlighted the increasing frustration among pharmaceutical companies over the country's unfavorable market conditions. The criticism follows announcements from companies like Merck and AstraZeneca, who have pulled back investments citing the challenging environment.
Ricks warned that unless changes are made, particularly in pricing and rebate policies, the UK risks losing access to new medicines and investment opportunities. The VPAG rebate scheme, designed to manage NHS medicine costs, remains a contentious point, with talks reportedly stalled.
While the UK government, which aims to be a top destination for life sciences investment, claims it is collaborating with the industry, the recent halt and retreat of major pharmaceuticals like Lilly, Merck, and AstraZeneca signal persistent concerns. The healthcare department is yet to provide comments on ongoing discussions over the rebate scheme.
(With inputs from agencies.)
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