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Policy

Medication Procurement

Healthcare Medication Procurement

Policy:

NHS could save an estimated £3 Billion a year by transforming its medication procurement strategy.

The NHS could save an estimated £3 Billion a year by transforming its medication procurement strategy.

This means ending the practice of overpaying for expensive, branded drugs when cheaper, equally effective generic alternatives are available.

It requires a tougher, more commercially-minded approach to negotiating with global pharmaceutical giants and finding generic drugs whilst monitoring patents ending and new drugs more carefully.

Furthermore, the immense buying power of the NHS should be leveraged as a strategic asset. To that the UK should encourage the development of a robust domestic pharmaceutical industry. The different NHS need to come together to procure drugs, so more volume buying power, which benefits each nation.

By prioritising British-made drugs, the NHS can create a more resilient supply chain, reduce dependency on foreign manufacturers, and stimulate local economies. A 'Buy British' policy for pharmaceuticals, where appropriate, would use the NHS's huge purchasing volume to support and scale up our domestic drug manufacturing industry.

This not only secures our own medicine supply chain but also builds a powerhouse industry capable of exporting life-saving drugs worldwide, boosting the UK economy.

Annual Expenditure Reduction of £-3 Billion