Words by Jade Williams
The UK Government has launched a £400m public-private investment initiative, aiming to advance the pharmaceutical and life sciences sectors and provide NHS patients with faster access to new treatments.
The Voluntary Scheme for Branded Medicine Pricing, Access and Growth (VPAG) investment programme, which was launched this Wednesday (28 August 2024), aims to strengthen the UK’s position as a home for cutting-edge health research. A key focus will be the expansion of commercial clinical trials, with 75% of the funding allocated to the creation of up to 18 new Commercial Research Delivery Centres across the UK over the next five years.
This initiative is the first major public-private collaboration of its kind in the world. The remaining 20% of the funding will support sustainable pharmaceutical manufacturing, and the final 5% will modernise Health Technology Assessment (HTA) processes to improve access to innovative medicines.
“This private investment is a significant vote of confidence in the UK and will fast-track the next generation of treatments to NHS patients,” said Wes Streeting, Health and Social Care Secretary. “It will enhance the UK’s global competitiveness and transform the country into the epicentre of health research, supporting an NHS fit for the future.”
The initiative is a partnership between the Department of Health and Social Care, NHS England, and the Association of the British Pharmaceutical Industry (ABPI). It is designed to enhance patient outcomes, manage NHS medicine costs and support the life sciences industry. The investment will be bolstered by contributions from pharmaceutical companies.
Richard Torbett, Chief Executive, ABPI, commented that “the life science industry has the potential to deliver so much more for the UK,” but to do this, he asserts that reform like this is needed. “This world-first Investment Programme puts industry money behind the government’s vision to make better health and science a driver of economic growth.”
