UK government to consult on value-based pricing in December
This article was originally published in Scrip
Executive Summary
Pharmaceutical companies operating in the UK may soon have a clearer idea of the shape of the new value based pricing (VBP) system for setting the price of drugs. The Department of Health will launch a consultation on proposals for VBP next month, according to the department's Business Plan 2011-2015. The government expects the new system to be up and running in January 2014, ready to replace the current Pharmaceutical Price Regulation Scheme when it comes to an end. The department will actually begin developing the system, together with pharmaceutical companies, next April. Value-based pricing forms part of the UK coalition government's plans to overhaul the National Health System to create a "patient-led NHS" and to improve healthcare outcomes.