Overview

• Dave Ricks warned that without higher prices and changes to the VPAG rebate, the UK risks losing new medicines and investment.
• Talks over the VPAG scheme remain stalled, with the government saying it is open to engagement but announcing no changes.
• Pharma groups have paused or scrapped nearly £2 billion of UK projects this year, including Merck’s £1 billion London hub and AstraZeneca’s £200 million Cambridge expansion.
• The VPAG clawback is reported at about 23–23.5% of branded-drug revenues, which industry leaders say penalizes successful launches.
• Eli Lilly paused UK shipments of Mounjaro and raised its private UK price by up to 170%, and separately announced a $6.5 billion manufacturing project in Houston that Ricks said was unrelated to U.S. pricing pressure.