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NHS drug prices set to rise due to Sir Keir Starmer Pharmaceutical companies are close to bowing to Donald Trump’s demand for more money.
This came after officials informed trump How should the administration adjust to new proposals? NHS Medicines prices were increased earlier this week, including increasing the National Institute for Health and Care Excellence (NICE) limit by 25 per cent.
Revelation, first reported politicoIs the government attempting to avoid a wave of new tariffs threatened by President Trump over the UK’s anti-competitive practices?
Under current rules, the NICE threshold measures whether a treatment provides good value for money. This means that if a medicine costs the NHS between £20,000 and £30,000 for each additional year of good quality life a patient gets, it is considered good value.
But, under new proposals being tabled at the White House, this cap would be raised, meaning the UK would pay more for the drugs overall.
However, the Treasury has resisted any changes because it would provide no additional benefits, one source said. politico: “This is the price you have to pay for global pharma to keep playing the UK after Trump.”
This comes as the Prime Minister is trying to make positive headlines on trade during his visit to India after securing a trade deal with the country.
But the price rise is a sour note on Trump’s positive relationship with the White House, where Sir Keir managed to secure the first trade deal to lift a sweeping tariff regime the president introduced earlier this year.
There is also a continuing headache over hopes for the UK to reduce steel tariffs from 25 per cent to zero, with talks apparently stalled months after Downing Street hoped to achieve a deal.
Trump has threatened to impose tariffs of up to 100 percent on pharmaceutical imports. This is despite the UK securing “preferential treatment” on the tariffs, which was conditional on better pricing for US pharma companies operating in the UK.
A UK Government spokesperson said: “The pharmaceutical sector and the innovative medicines it produces are vital to our NHS, our economy and our plan for change. Through our Life Sciences Sector Plan, we have committed to working with industry to accelerate the increase in spending on innovative medicines compared to the last decade.”
The spokesperson said: “We have secured a historic economic partnership with the US which includes working together on pharmaceutical exports from the UK, while also improving conditions for pharmaceutical companies here. We are now in advanced discussions with the US administration to ensure the best outcome for the UK, which reflects our strong relationship and the opportunities for closer partnership with our pharmaceutical industry.”