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Investing.com -- The UK is preparing to finalize a significant pharmaceuticals agreement with the United States that would eliminate import tariffs on pharmaceutical products entering the US market, The Times reported on Monday.
According to industry sources cited in the report, the UK government has agreed to reduce an industry sales rebate rate on National Health Service (NHS) drug prices. The deal would also include improvements to the NHS’s cost-effectiveness measure for medications.
As part of the agreement, the British government will make a commitment to increase the percentage of the NHS budget allocated to medicine purchases.
The trade arrangement is expected to benefit both nations, with UK pharmaceutical exports gaining tariff-free access to the American market while potentially changing how the NHS prices and purchases medications.
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