Words by GOLD newsdesk
The UK must increase investment in innovative medicines and vaccines if it is to deliver on the NHS 10-Year Plan and drive economic growth, the Association of the British Pharmaceutical Industry (ABPI) has warned.
A report published today by the ABPI argues that alongside the government’s existing priorities – shifting care from hospitals to the community, moving from analogue to digital systems, and focusing on prevention rather than treatment – there must be a fourth priority: boosting spending on new medicines and vaccines.
The UK lags behind other major economies in pharmaceutical investment, the report claims. Medicines account for just 9% of total healthcare spending in the UK, compared with 17% in Germany and Italy, and 15% in France. The availability of new medicines has also declined by 10% in the UK over recent years, a sharper fall than the 2% drop seen across the EU.
Richard Torbett, Chief Executive, ABPI, said that government spending on medicines needs to be looked at differently in the future. “The NHS 10-Year Plan and the Life Sciences Sector Plan both represent opportunities to achieve the government’s mission for growth, but to do so, we must view medicines as an investment rather than a cost,” he said.
The report’s recommendations include raising the proportion of NHS spending on medicines and vaccines to levels seen in comparable countries and ensuring that the health service is better prepared to adopt new treatments. It also calls for greater integration of research within the NHS, better use of health data and improved access to medicines that prevent disease progression.
A key issue will be the upcoming review of the Voluntary Scheme for Branded Medicines Pricing and Growth, which caps the growth in NHS spending on medicines. The ABPI warns that current restrictions place undue pressure on the pharmaceutical sector and limit patient access to life-saving treatments.
The life sciences sector has been identified by the government as a key driver of economic growth. The pharma industry alone contributed £9bn in research and development in 2022, generating £17.6bn in economic value. The industry also supported 126,000 highly skilled jobs and generated £26.1bn in exports.
The ABPI says that further investment in medicines and vaccines could help to prevent disease, reduce hospital admissions and improve productivity across the economy. The organisation is urging policymakers to act now to secure the future of the NHS and maintain the UK’s position as a global leader in life sciences.
