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Home » AbbVie and Eli Lilly Withdraw From UK Drug Pricing Agreement
AbbVie and Eli Lilly Withdraw From UK Drug Pricing Agreement
AbbVie and Eli Lilly have pulled out of a voluntary UK drug pricing agreement for the National Health Service.
The Voluntary Scheme for Branded Medicines Pricing and Access (VPAS) “has harmed innovation, with costs spiraling out of control, and the UK falling behind other major countries to be left as a global outlier,” said Laura Steele, Lilly’s president and general manager of Northern Europe.
Under the 2019 VPAS agreement, the growth of NHS branded drug spending is capped at two percent per year, which means companies must return any spending beyond this cap to the government.
The repayment rates for this year have risen to 26.5 percent of revenue, following a December 2022 announcement from the UK that brand-name drugmakers will have to pay the government nearly $4.1 billion, a sharp increase from approximately $2.2 billion in 2022.
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