On 21st February 2024, directors and UK access specialists Fatima Chunara and Charlie Hewitt hosted a live webinar focused on the impact of the new pricing scheme. Their expertise was instrumental in shedding light on the new Voluntary Scheme for Branded Medicines, Pricing, Access and Growth (VPAG), offering invaluable insights into what the next four years look like with the scheme in place.
Introduction to the topic
The 2023 Voluntary Scheme for Branded Medicines Pricing and Access (VPAG) represents a collaborative effort between the Department of Health and Social Care (DHSC), NHS England, and the Association of the British Pharmaceutical Industry (ABPI). It is established as a non-contractual agreement, aimed at regulating pharmaceutical expenditures while fostering innovation within the industry.
Open for enrolment from January 2024 through the end of 2028, the scheme imposes limits on NHS spending for branded medicines, gradually increasing to 4% annually by 2028. Participating pharmaceutical companies contribute to this endeavour by providing rebates on sales exceeding the predetermined expenditure threshold, as outlined in the scheme.
Voluntary Schemes such as VPAG are strategically crafted to strike a delicate balance between incentivizing innovation within the pharmaceutical sector and ensuring prudent management of medicine expenditures across the UK healthcare system.
The webinar includes discussions on:
- Key differences between the VPAS and VPAG
- VPAS investment programme
- Factors influencing rebate calculations
- Rebate calculations for older and newer medicines
- Answers to audience-asked questions
To view the webinar on demand, please click below:
If you have any questions or would like to discuss the topic in more detail, please reach out.
Alternatively, you can now watch on YouTube.