What's Happening?
Patrik Jonsson, Executive Vice President at Lilly International, speculated at the FT Global Pharma & Biotech Summit that the VPAG deadline might be postponed by another two weeks. The deadline, initially
set for September, has been extended multiple times, now potentially to the end of November. The pharmaceutical industry faces challenges due to global policy shifts and tariff threats, impacting investment in the UK. AstraZeneca and MSD have announced pauses in UK investments, reflecting concerns over high VPAG payment rates and the UK's declining position in R&D and clinical trials.
Why It's Important?
The potential extension of the VPAG deadline highlights ongoing uncertainty in the UK pharmaceutical sector. High payment rates under VPAG are seen as a deterrent to investment, prompting companies to reconsider their operations in the UK. This situation underscores the need for urgent action to restore confidence and secure the UK's future as an innovation hub. The pharmaceutical industry is crucial for economic growth and healthcare advancements, making these developments significant for policymakers and stakeholders.
