Question to the Department for Science, Innovation & Technology:

To ask His Majesty's Government what assessment they have made of the link between the increase in rebate rates in the Voluntary Scheme for Branded Medicines Pricing and Access and the decline in life sciences foreign direct investment to the UK from £1.9 billion in 2021 to £1 billion in 2022.

No direct assessment has been made. However, payment rates in the 2019 VPAS have been below those forecast when the scheme was agreed with industry. The Government remains firmly committed to negotiating a mutually beneficial scheme that supports better patient outcomes, a strong UK life sciences industry, and the sustainability of NHS spend on branded medicines.