2014-02-07 20:59:01 - United Kingdom Pharmaceuticals and Healthcare Report Q1 2014 - a new market research report on companiesandmarkets.com
The UK government´s implementation of an almost 4% price cut on medicines in 2014, under a five-year agreement to slow inflation in the GBP11bn (US$15bn) annual National Health Service (NHS) medicines budget, will work against the country´s business environment. The continuation of the Pharmaceutical Price Regulation Scheme (PPRS), which should have been replaced by the value-based pricing (VBP) at the start of 2014, highlights the government´s view that medicines are a cost that need to, and will be, managed - despite the negative implications this is already having on the country´s investment attractiveness. Additionally, the details of the new pricing scheme remain unknown to industry, further increasing the uncertainty.
Headline Expenditure Projections:
Pharmaceuticals: GBP23.30bn (US$37.15bn) in 2012 to GBP22.93bn (US$34.86bn) in 2013;
in local currency terms and -6.2% in US dollar terms. Forecasts broadly unchanged in relation to the previous quarter.
Healthcare: GBP144.42bn (US$230.24bn) in 2012 to GBP147.45bn (US$224.12bn) in 2013; +2.1% in local currency terms and -2.7% in US dollar terms. Forecasts unchanged in relation to the previous quarter.
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