The UK boss of pharma giant AstraZeneca has warned the firm could halt investment in Britain unless the NHS pays more for its drugs.
Shaun Grady told an event at the Conservative Party Conference that Britain’s pricing regime, which seeks to limit the financial impact on the health service, was ‘appalling’.
It comes weeks after AZ paused plans to invest £200 million at a Cambridge research site.
Mr Grady told the conference fringe event the UK had ‘failed to keep pace on medicine investment over the years’, according to the Telegraph.
Asked about how the Cambridge investment could be unlocked, he warned: ‘Unless the commercial environment changes, the UK is not going to be on the list.’
He is the latest big pharma boss to try to strong-arm the NHS into paying more for drugs.
Last month Dave Ricks, the boss of Elli Lilly, said the UK is ‘probably the worst country in Europe’ for drug prices and it was hitting investment.
Lord Vallance, the Labour peer who previously worked for drugs giant GSK, has admitted that ‘price increases are going to be a necessary part’ of resolving the row.
Shaun Grady told an event at the Conservative Party Conference that Britain’s pricing regime, which seeks to limit the financial impact on the health service, was ‘appalling’ (file image)
It comes weeks after AZ paused plans to invest £200 million at a Cambridge research site.
Despite being headquartered in the UK, America is the Anglo-Swedish firm’s largest market, where it employs more than 18,000 staff and makes 42 per cent of total group sales and there has been increasing speculation that the firm may look to shift its main listing to the US.
Last month it revealed plans to overhaul its US listing, but stressed it will keep its headquarters in the UK and remain on the FTSE.
Health Secretary Wes Streeting recently told the BBC there was ‘a live conversation between Government departments and the pharma industry’ on drug pricing.