How price regulation works in UK

„ NICE - THE NATIONAL INSTITUTE FOR HEALTH AND CARE EXCELLENCE

Evaluates cost-effectiveness of drugs, but also gets up to 90% discounts on medicines as companies will negotiate to get a medicine through.

„ THE VOLUNTARY SCHEME FOR MEDICINES AND PRICING An agreement between the Department of Health and the pharmaceutical industry - caps the growth of NHS spend on branded medicines at an agreed rate, with any overspend paid back to the NHS, and is in place until 2024.

„ THE ‘STATUTORY SCHEME’

Regulates the prices of branded products manufactured by companies that are not signatories to the above. It requires them to pay a percentage of their sales to the NHS.