The British government will offer to pay more for medicines that it buys for the National Health Service, the Financial Times reported on Friday, hoping to defuse one of US President Donald Trump’s top complaints after he announced steep tariff increases on branded medication.
Prime Minister Keir Starmer’s chief business adviser, Varun Chandra, will travel to Washington next week to discuss the offer, the report added.
The president has fumed because prescription drugs cost more in the US than in any other country, sometimes triple.
Prescription drugs in the US are very expensive. (Picture: Julio Cortez/AP)He has demanded that drug companies lower prices in the US and raise them elsewhere. The price increases would potentially offset the impact of US price cuts on drugmakers’ revenues.
A UK government spokesperson did not directly address the Financial Times report, but said in a statement that Britain was in “a constructive dialogue with the US and industry.”
“We will always put patients and taxpayers first, striking the right balance between creating an environment where this innovative sector can thrive whilst ensuring best value for money,” the statement said.
Earlier on Friday, Britain said it was pressing the United States on pharmaceutical tariffs in hope of a beneficial outcome.
It came after Trump said a new 100 per cent tariff would apply to firms unless they build a manufacturing site in the country.
Major British drugmakers like AstraZeneca and GlaxoSmithKline have already set up manufacturing facilities in the US and have announced further investments.
The Trump administration has given drugmakers until Monday to lower prices for some US drugs voluntarily, with a threat of tariffs if the president is not satisfied.
With Reuters
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