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Health Secretary Slams Drug Companies Over Pricing Crisis

8/27/2025

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Summary

Story summary

Health Secretary Wes Streeting criticized pharmaceutical companies for being "shortsighted" over drug pricing negotiations with the ABPI.
A rebate scheme dispute has caused rates to rise from 15% to nearly 23% due to increased NHS spending.
Drug firms warn that high rebate rates could reduce drug trials and lead to job losses in the UK.
Companies like Gilead Sciences may refrain from launching new drugs in the UK due to profitability concerns.
The ABPI states that this situation adversely affects patient access to new treatments, especially for cancer.

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Story summary

Health Secretary Wes Streeting criticized pharmaceutical companies for being "shortsighted" over drug pricing negotiations with the ABPI.
A rebate scheme dispute has caused rates to rise from 15% to nearly 23% due to increased NHS spending.
Drug firms warn that high rebate rates could reduce drug trials and lead to job losses in the UK.
Companies like Gilead Sciences may refrain from launching new drugs in the UK due to profitability concerns.
The ABPI states that this situation adversely affects patient access to new treatments, especially for cancer.