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NEWS STORY

UK pharma body highlights industry contribution to country

20/02/2014

The UK's pharma trade body has published a booklet highlighting the contribution the industry has made to the UK.

In a Wednesday statement, Stephen Whitehead, chief executive of the Association of the British Pharmaceutical Industry (ABPI), said the booklet, called "Delivering value to the UK", discusses how pharma has contributed to the UK's economy and society.
 
Whitehead said that the NHS would not be able to exist in its current form without the pharma industry, and that drugs it has developed have reduced societal costs associated with illness.
The booklet also provides an estimate of the costs involved with developing a medicine - according to the ABPI this is around 1.15 billion pounds (1.4 billion euros) over a 12-year period.
 
Securing better patient access to innovative drugs, despite some of the lowest prices in Europe, is another key challenge, according to the booklet.
 


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