UK and US poised to agree zero-tariffs deal on pharmaceuticals, The Times says

Dec 1 (Reuters) – The UK ​is poised to agree on ‌a major pharmaceuticals deal with the ‌U.S., which will mean zero import tariffs on pharmaceutical products into the U.S.⁠ and ‌lead to an increase in NHS spending on medicines,‍ The Times reported on Monday.

The UK government is understood to have ​agreed to lower an industry ‌sales rebate rate on NHS drug prices and to also improve the NHS’s cost-effectiveness measure for drugs, the ⁠report said, ​citing industry sources.

The British ​government will commit to increasing the percentage of the ‍NHS budget ⁠that it spends on medicines, it said.

Reuters couldn’t ⁠immediately verify the report.

(Reporting ‌by Ruchika Khanna in BengaluruEditing ‌by Bernadette Baum)