Updated: Will the UK’s triple-pronged approach ease pricing, regulatory and financial bottlenecks?
October and November were critical months in shaping the future of the UK’s biopharma sector. After several years of macroeconomic challenges, the government unveiled a bundle of new drug pricing, regulatory and financial measures in the fourth quarter aimed at increasing the attractiveness of its healthcare system to both industry and investors at local and global levels.
For starters, the UK recently refreshed its approach to drug pricing in a bid to save its NHS money while also boosting the competitiveness of its drugs market. The UK’s Medicines and Healthcare products Regulatory Agency (MHRA) has also made moves to address how long companies wait for clinical trial authorizations. And, just last month, chancellor Jeremy Hunt unveiled a package of new economic commitments aimed at “unlocking growth and productivity” in the homegrown life science space.
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