Question to the Department of Health and Social Care:

To ask the Secretary of State for Health and Social Care, with reference to the policy paper entitled 2024 voluntary scheme for branded medicines pricing, access and growth: summary of the heads of agreement, published on 20 November 2023, what assessment her Department has made of the potential impact of these policies on life science SMEs.

The Government’s Life Sciences Vision sets out our ambition to develop a globally competitive life sciences investment ecosystem in the United Kingdom. While no assessment has been made, the 2024 voluntary scheme for branded medicines pricing, access and growth includes several policies that will benefit innovative companies and drive innovation into the United Kingdom. This includes an exemption from payment for small companies with under £6m of sales to the National Health Service and a taper for medium sized companies with between £6 million and £30 million of sales.