The Department of Health and Social Care (DHSC) launched a new Innovative Medicines Fund on Tuesday (June 7) under which £340 million has been made available
to purchase potentially life-saving drugs early.
This will allow NHS patients in England to have early access to potentially life-saving and cutting-edge treatments
Health secretary Sajid Javid said: "I want NHS patients to be the first in the world to access the most promising and revolutionary treatments that could extend or
save their lives.
"The launch of the Innovative Medicines Fund delivers another manifesto pledge and will fast-track cutting-edge medicines to adults and children to give people
renewed hope for a better future."
A total of £680 million has been ringfenced for the Innovative Medicines Fund and Cancer Drugs Fund - £340 million each - to fast-track medicines to NHS patients.
DHSC said: "The Innovative Medicines Fund will provide quick access to novel treatments, including potentially lifesaving gene therapies for serious conditions with
few treatment options. It often takes longer for pharmaceutical companies to collect data on a medicine's clinical and cost effectiveness for rare diseases due to
the smaller patient cohort.
The Association of the British Pharmaceutical Industry (ABPI) has issued a challenge to all political parties to outline detailed plans aimed at maximising
the industry's role in driving UK health and economic prosperity.
In 2022, the pharmaceutical sector invested £9 billion in UK research and development, generating £16.4 billion in economic value and sustaining 126,000 high-skilled
jobs nationwide.
Ahead of the 2024 general elections, ABPI's Manifesto for Investment, Health, and Growth outlines a strategic framework to enhance patient care within the NHS.
It includes expanding access to new medicines through clinical trials and bolstering domestic manufacturing capabilities.
It also includes creating additional high-skilled employment opportunities across the UK.
As per the association, the potential impact of these initiatives is substantial.
