"As our prime minister and king grovel to the global bully with royal folderol this week, we will probably feel the full humiliation of the would-be American king. The recent blow to British life sciences is a brutal example of our serfdom. Trump's threat to put a 250% tariff on medicines made abroad by pharmaceutical companies, unless they move their factories, research and legions of jobs to the US, is driving out the UK pharma industry."
"Negotiations between the health secretary, Wes Streeting, and drug companies about fair prices have collapsed. This time, the pharma industry is backed up by presidential threat. Often reviled as capitalist beasts in the green pastures of the NHS, this year drug companies have a point: their voluntary agreement to pay a percentage of their income on sales to the NHS leapt from 15% to 23%."
Donald Trump's threat of a 250% tariff on medicines produced abroad unless companies relocate production to the US is prompting major pharmaceutical divestment from the UK. Companies including AstraZeneca, Merck and Eli Lilly have cancelled or paused UK investments, and Novartis is reviewing its commitments. The US executive order demands the lowest prices for the US, amplifying tensions over Europe’s and especially the NHS’s lower drug prices. Negotiations between the health secretary and drug companies have collapsed amid industry resistance, despite an increase in voluntary payments to the NHS from 15% to 23% and a one-billion offer to ease profit reductions.
Read at www.theguardian.com
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