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The Department of Health and Social Care (DHSC) has published the full text of the 2024 voluntary scheme for branded medicines pricing, access and growth (VPAG). The 2024 VPAG agreement text sets out the detailed terms of the agreement reached between DHSC, NHS England and the Association of the British Pharmaceutical Industry (ABPI) to support patient access to medicines, the financial sustainability of the NHS and the UK life sciences sector. The new voluntary scheme will come into force on 1 January 2024, following expiry of the 2019 Voluntary Scheme and shall remain in force for a period of five years, until 31 December 2028. Manufacturers or suppliers of branded medicines to the NHS have been given time till 15 January 2024 to decide whether to join the new 2024 Voluntary Scheme, or default to the updated Statutory Scheme.

The Department of Health and Social Care (DHSC), NHS England and the Association of the British Pharmaceutical Industry (ABPI) have reached an agreement on the 2024 voluntary scheme for branded medicines pricing, access and growth (VPAG). The landmark deal will save the NHS £14 billion over 5 years in medicines costs, boost the nation's health, and support research investment. The new VPAG scheme, which will be a non-contractual voluntary agreement between DHSC and ABPI, will run for 5 years from 1 January 2024 until 31 December 2028. It will double the annual allowed growth of sales of branded medicines from two per cent per year in 2024 to four per cent per year by 2027.