NHS patients will have earlier access to new treatments and the UK will become the home of cutting-edge health research as the UK government launches a joint public-private investment programme worth up to £400 million.
The Voluntary Scheme for Branded Medicine Pricing, Access and Growth (VPAG) Investment Programme will channel significant investment into the UK’s health and life sciences sector over the next five years, boosting economic growth and the global competitiveness of the UK’s life sciences sector.
It is the first major public-private collaboration of this scale in the world and will strengthen the NHS through supporting innovative research, creating 18 new clinical trial hubs to fast-track the development of new medicines to patients.
By streamlining processes, it will ensure that new treatments move swiftly from labs to wards, providing patients with faster access to cutting-edge treatments.
Health and Social Care Secretary Wes Streeting said: “This private investment is a significant vote of confidence in the UK and will fast-track the next generation of treatments to NHS patients.
“It will enhance the UK’s global competitiveness and transform the country into the epicentre of health research, supporting an NHS fit for the future.
“By cutting waiting lists and fixing our NHS, we can make it an engine for growth and build the healthy society needed for a healthy economy.”
The funding will be channelled into key health and life sciences projects across the country to:
- Increase opportunities for patients to participate in commercial clinical trials.
- Create sustainable pharmaceutical manufacturing innovation.
- Support innovative Health Technology Assessment (HTA) approaches.
Richard Torbett, ABPI Chief Executive, said: “The life science industry has the potential to deliver so much more for the UK – but to do this we need to fix the NHS, improve patient access to medicines and invest more in our critical science and regulatory infrastructure.
“This world-first investment programme puts industry money behind the government’s vision to make better health and science a driver of economic growth. The investment programme supports the government’s missions to kickstart economic growth and improving the UK’s clinical trials will also help attract further global investment.”
Science and Technology Secretary Peter Kyle added: “We are determined that the most effective new treatments are made available to NHS patients by ensuring the UK is the best place to discover and deploy new medicines, from early research through clinical trials to manufacture.
“Investing in cutting-edge medicines research both boosts our economic growth potential and the prospect of new treatments and technologies for modern patient care. Support for clinical trials is integral to both.”
