Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, whether she has made an assessment of potential links between the Voluntary Scheme for Branded Medicines Pricing and Access and levels of foreign direct investment in life sciences.

The Government has considered in broad terms the link between volume-based rebate payments in our medicine pricing schemes and various kinds of investment in our Impact Assessment of updates to the Statutory Scheme for branded medicines pricing, which operates alongside voluntary scheme for branded medicines pricing and access (VPAS). The Government’s 2023 Impact Assessment of updates to the Statutory Scheme can be found here: www.gov.uk/government/consultations/review-of-the-scheme-to-control-the-cost-of-branded-health-service-medicines.

We are in close discussions with the Department of Health and Social Care and Department for Business and Trade about the business environment for life sciences and its impact on investment.