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Reported by Emily Johnson, Contributing Editor
Novartis, a pharmaceutical giant, has stated that NHS patients in the UK will be denied access to groundbreaking new treatments due to the exponential increase in costs. This declaration follows the breakdown of discussions regarding drug pricing deals between Health Secretary Wes Streeting and pharmaceutical companies.
Addressing the issue, Novartis UK’s Johan Kahlstrom highlighted the outdated assessment methods for new drugs in the UK, which he claims make it challenging to approve and launch innovative medications. This has led to Novartis considering the UK as largely uninvestable due to the escalating costs involved.
Despite the UK government’s assertion of presenting a generous offer to enhance growth in the pharmaceutical sector, Novartis remains unconvinced. The company expressed concerns about the capability to introduce new medicines in the UK and emphasized the declining competitiveness of the market compared to other European countries.
In response to the ongoing dispute, Richard Torbett, CEO of the Association of the British Pharmaceutical Industry, stated that the demand for new medicines was escalating while investment in treatments was diminishing due to unfavourable rebates. The pharmaceutical industry continues to push for a resolution to the impasse, emphasizing the need for change in assessment methods in the UK to ensure patient access to innovative treatments
Read the full article from The BBC here: Read More
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