GSK CEO Emma Walmsley Highlights US as Prime Location for Pharmaceutical Investment Amid UK Policy Changes
Emma Walmsley, CEO of GSK, has emphasized the United States as the optimal environment for pharmaceutical investment, citing the country's leading position in drug and vaccine launches. The US, alongside China, remains a top market for business development. GSK plans to invest $30 billion in the US by 2030, with about half of its revenues stemming from the American market.
In contrast, the UK is experiencing challenges in its pharmaceutical sector. Negotiations over NHS drug pricing collapsed in August, which has led companies like AstraZeneca and MSD/Merck to pause or cancel significant UK investments. The UK government is proposing to reduce the revenue clawback on new medicines from 22.5% to a maximum of 15% next year, whereas clawback on older branded medicines will remain between 10% and 35%.
The government is also pushing to increase NHS spending on new medicines by 25%, as part of a zero-tariff deal with the US administration. Additionally, the National Institute for Health and Care Excellence (NICE) will raise the cost-effectiveness threshold for new medicines, while the Department of Health has proposed giving ministers limited power to set this threshold.
The Association of the British Pharmaceutical Industry (ABPI) estimates that spending on medicines could increase by around £1 billion over the next three years. ABPI chief executive Richard Torbett commented that the 15% cap on clawbacks would provide certainty but stressed that further efforts are necessary to speed up the NHS's adoption of cost-effective medicines.
