First Payments Made by Industry to Underwrite the Medicines Bill

Targeted News Service |

LONDON, June 30 -- The Association of the British Pharmaceutical Industry issued the following news release: The Association of the British Pharmaceutical Industry (ABPI) and the Department of Health have today announced the first payment of GBP74 million by industry to underwrite the growth in the branded medicines bill under the 2014 Pharmaceutical Price Regulation Scheme (PPRS). Click here to see the first quarterly net sales and payment information (https://www.gov.uk/government/publications/pprs-quarterly-net-sales-and-payment-information) The payment accounts for the first three months of 2014. The first year payments have been agreed at 3.74\% of companies' net sales, which is based on a joint forecast of growth in the branded medicines bill. In subsequent years the payments will be adjusted based on actual growth rates. Under the new five year voluntary PPRS, the pharmaceutical industry has recognised the financial challenges facing the NHS and we will help keep NHS expenditure on branded medicines in the scheme flat for two years and keep the growth rate below 2\% for a further three years. The industry will underwrite any further expenditure by the NHS with the exception of the agreed exclusions1. Stephen Whitehead, ABPI Chief Executive, said: "This first payment is proof that the PPRS is working as it was designed to, and is a strong foundation to achieve better access to innovative medicines for patients across the country. The ABPI is currently in discussion with both the Department of Health and NHS England on how best to ensure that the scheme delivers better access to innovative medicines for patients and we are committed to working with the NHS to achieve this." CC AutoTriage13cn-140701-30TagarumaMar-4784219 30TagarumaMar

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