Drugs companies 'overprice medicines', says health chief
The drugs industry is overpricing vital new medicines to boost its profits, the head of Britain’s drugs approval body has warned.
Professor Sir Michael Rawlins, chair of the National Institute for Clinical Excellence (Nice) warned of ‘perverse incentives’ to hike the prices of new drugs – including linking the pay of pharmaceutical company executives to their firm’s share price.
Professor Rawlins was speaking out after growing public anger over the number of drugs and treatments being blocked by Nice and health trusts.
Some critics accused the body of ‘barbarism’ last week for refusing to approve expensive new kidney drugs for NHS use, on the grounds that they were not cost-effective.