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UK Science Minister Patrick Vallance has stated that higher NHS drug prices are necessary to resolve disputes with pharmaceutical companies and reverse the exodus of industry investment. His comments follow collapsed negotiations over a 'clawback tax' and criticism from major pharma executives regarding the UK's competitiveness. Despite some companies pulling investments, Moderna recently opened a new UK facility, and the government launched a £50m fund to attract life science capital.

In a nutshell

This article highlights the tension between government cost-saving measures and the need to maintain an attractive environment for pharmaceutical R&D investment. It underscores the complex balance global governments face in ensuring drug access while fostering innovation and industry presence.

Source: City A.M.