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Industry News
Pharmaceutical Industry NewsUK coalition govt could end free drug pricingBritain's position as one of the few markets in the world where drug companies are free to set prices for their medicines could be under fire from the country's new coalition government.A Conservative-Liberal Democrat coalition proposal to move to "value-based pricing" for medicines suggests price controls are now on the horizon, industry analysts said.Drug prices have been under growing pressure across Europe this year as governments tackle ballooning budget deficits.The British proposals may not be an immediate threat to drug company profits, unlike recent price cuts in Spain, Greece and Germany, but promise to ratchet up pressure in the longer term. The current UK Pharmaceutical Price Regulation Scheme (PPRS) regulates profits, not prices, on sales to the National Health Service (NHS), while the National Institute for Health and Clinical Excellence (NICE) assesses if drugs are cost effective.Now that is set to change. In its "Programme for Government" document, released last week, the coalition said it would "reform NICE and move to a system of value-based pricing".The government made clear on Tuesday that this would involve changes in the way medicine prices are determined."
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