It has been announced that the government, NHS England and the pharmaceutical industry will begin negotiating the successor to the voluntary scheme for branded medicines, pricing and access (VPAS).
The parties will be negotiating an agreement that supports better patient outcomes and a healthier population. It is also hoped the new agreement will support a financially stable NHS, while also supporting economic growth.
The new voluntary scheme is expected to come into effect from 1 January 20234, with the current scheme ending on 31 December.
Health minister, Will Quince, said: "These negotiations will ensure a new scheme continues to deliver value for money by providing significant savings for our health services, securing access to innovative lifesaving drugs for NHS patients, and helping to reduce waiting times – one of the Prime Minister’s 5 priorities.
"The current voluntary scheme supports investment in NHS services and saves billions of pounds for the NHS, while also promoting innovations and a successful life sciences sector.
"It’s vitally important that the successor to the current scheme delivers for the taxpayer, patients, the NHS, and life sciences."
Negotiations are due to conclude in the autumn.
