The UK Government has launched a joint public-private investment programme worth up to £400 million, hoping to help NHS patients have earlier access to new treatments and ensure the UK becomes the home of cutting-edge health research.
The Voluntary Scheme for Branded Medicine Pricing, Access, and Growth (VPAG) Investment Programme opens today. It aims to 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 intends to 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 hopes to ensure that new treatments move swiftly from labs to wards, providing patients with faster access to cutting-edge treatments.
Health Secretary Wes Streeting welcomed the move, stating “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.”
BIVDA Policy and Public Affairs Executive Ben Kemp concurred, declaring “The declining number of clinical trials in the UK has greatly impeded patient access to pioneering therapies and technologies and has harmed UK industry. This announcement should help to address some of the long-standing issues and bolster the UK life sciences ecosystem.”
