Opened the debate
The current voluntary scheme for branded medicines pricing and access (VPAS) is too restrictive, leading to a decline in pharmaceutical research investment in the UK. The global share of R&D has fallen from 4.9% in 2012 to 3.3% in 2020, with initiated industry clinical trials decreasing by 41% between 2017 and 2021. The scheme's current rebasing formula is uncertain, creating difficulties for budgeting and deterring investment.