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The newly-formed All-Party Parliamentary Group (APPG) for Life Sciences has written to Chancellor of the Exchequer Rachel Jane Reeves, urging her to protect and promote the life sciences sector in the government's first Budget. The group, which includes MPs and peers, convened for its first meeting in Parliament on Tuesday (15 October) to discuss the steps the Labour government should take to ensure that the UK remains a global leader in life sciences research and commercialisation. Following the meeting, the group sent a letter to the Chancellor, expressing their support for the Labour Party's life sciences strategy, A Prescription for Growth, which was published before the general election. They urged the Chancellor to maintain government funding for life sciences research and manufacturing, as well as the tax reliefs that encourage investment, in the Budget set for 30 October. Kit Malthouse MP, chair of the APPG, emphasised the potential of the life sciences sector, saying, "The Life Sciences sector holds out an incredible promise that the UK can be at the forefront of humanity's battle with disease and at the same time build a 21st century knowledge-based economy.

The 'Life and Health Sciences Launchpad' has been introduced to focus on the precision medicine sector. It would help businesses and researchers to level up their impact on economic growth within the region. The launchpad has been funded by Innovate UK, part of UK Research and Innovation (UKRI). Kerry Curran, Director of GB & EU Trade in the Department for the Economy hailed the decision to support NI's "trailblazing" sector. She said: "Life and Health Science, including our highly innovative precision medicine cluster, is an area the Department is also prioritising through its 10X Economy Vision, and this Launchpad represents a further endorsement of the world-leading growth potential of precision medicine, and indeed life and health science, in Northern Ireland.

The UK government has announced the launch of a new joint public-private investment programme aimed at accelerating patient access to cutting-edge treatments, enhancing clinical trials, and bolstering the country's medicines manufacturing capabilities. Supported by up to £400 million of investment, the Voluntary Scheme for Branded Medicine Pricing, Access and Growth (VPAG) Investment Programme is set to inject significant resources into the UK's health and life sciences sector over the next five years. Believed to be the world's first major public-private collaboration of this scale globally, the VPAG Investment Programme is designed to boost economic growth and the global competitiveness of the UK's life sciences sector. It aims to strengthen the NHS by supporting innovative research and creating 18 new clinical trial hubs to fast-track the development of new medicines for patients. The programme will also streamline processes to ensure the rapid transition of new treatments from labs to wards, providing patients with faster access to cutting-edge treatments. Health and Social Care Secretary Wes Streeting hailed this private investment as "a significant vote of confidence in the UK" highlighting that it will fast-track the next generation of treatments to NHS patients.

The Association of the British Pharmaceutical Industry (ABPI) has proposed a Voluntary Scheme for Pricing, Access and Growth (VPAG) that aims to deliver a sustainable approach to medicines provision and maximise the growth potential of the UK life sciences industry. It has published the industry's vision for a new agreement with the government which will deliver for patients, the NHS and the economy. VPAG also includes measures to ensure rapid patient access and adoption of new medicines, as well as opportunities to improve health outcomes and productivity for the whole country. The association's proposals consist of four key areas: restoring an internationally competitive commercial environment for life sciences; supporting UK clinical research and R&D; ensuring rapid patient access and uptake of new medicines; and improving population health and productivity through health innovation. The proposal would deliver over £1bn a year to the NHS - around £300m more than the average delivered under the old scheme before 2023, and comfortably more than the highest contributions ever made before the pandemic.

The government, NHS England and the Association of the British Pharmaceutical Industry (ABPI) has begun the negotiations for a new voluntary scheme for branded medicines pricing on Thursday (4 May). A new voluntary scheme is expected to take effect from 1 January 2024, replacing the current scheme which came into force in 2019 and ends on 31 December 2023 In their first meeting, the government, NHS England and industry - represented by the ABPI -expected to agree to a shared negotiation aim of working toward a mutually beneficial agreement that supports better patient outcomes and a healthier population, a financially sustainable NHS, and UK economic growth. Health Minister, Will Quince, said: "These negotiations will ensure a new scheme continues to deliver value for money by providing significant savings for our health services, securing access to innovative lifesaving drugs for NHS patients, and helping to reduce waiting times - one of the Prime Minister's 5 priorities. The current voluntary scheme supports investment in NHS services and saves billions of pounds for the NHS, while also promoting innovations and a successful life sciences sector.

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.