The UK pharma industry paid £209 million or $317 million as compensation on their part to underwrite growth of the medicines bill for the second quarter of 2015

BANGALORE, INDIA, December 22, 2015 /EINPresswire.com/ -- To underwrite growth of the medicines bill for the second quarter of 2015, the UK pharma industry paid £209 million or $317 million.

This growth is very small, just over 2% and this has raised concerns about patients not getting access to the right medicines at the right time.

The cause of concern from these figures is that the growth rate of branded medicines in the Pharmaceutical Price Regulation Scheme (PPRS) was just half of what is was in the second quarter of 2015 and stood at 2.41%.

This reduced growth rate in the pharma industry, according to experts is a cause of worry and indicates that patients in the UK are still losing out. Patients are still not getting access to the right medicines at the right time, even after the pharma industry, according to a new agreement, is underwriting the medicines bill.

Based on the expenditure on pharmaceuticals per person, the United Kingdom already lags behind the rest of Europe in investing in medicines. The most recent figures, in September this year, suggest that the gap may have widened.

Under the PPRS, the pharmaceutical industry paid a total of £310 million to the Department of Health in 2014 and it was expected that the total payments for the same under the same scheme would be around £800 million for 2015.

Patients are given access to greater access to new and innovative treatments at minimal cost through the PPRS scheme implemented by the National Health Service (NHS).

The PPRS is an agreement between the Department of Health and the Association of the British Pharmaceutical Industry (ABPI), regarding the supply of branded medicines to the NHS.

The scheme is scheduled to go on for 5 years after it was initiated on 1 January 2014.

The NHS expenditure on branded medicines has been agreed by the pharmaceutical industry to be kept flat for the first two years and then grow at a rate of below 2% growth for the following three years.

Subject to the agreed exclusions, the pharmaceutical companies have agreed to pay for the difference in percentage between allowing growth and actual growth in NHS expenditure on branded medicines.

Following the most complex pricing negotiations ever experienced, 134 companies, representing 93% of the UK, branded industry joined the voluntary PPRS, which was agreed in November 2013.

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