U.K. National Health Service Proposing 10% Cut For Prescription Drug Prices

I'm sure this is not real popular with the pharmaceutical companies...BD

The United Kingdom's National Health Service is negotiating revisions to the U.K. national price list that could cut prescription drug prices by 10%, the Financial Times reports. A five-year, 7% cut was made in 2005 under the last negotiation of the Pharmaceutical Price Regulation Scheme, which was supposed to last until 2010. The larger cut proposed by NHS would save one billion pounds annually and help meet savings goals mandated by the Treasury in 2007. NHS plans to reach an agreement with the industry by June. Such a system likely would increase prices for some drugs, but lower the cost of others, according to the Times (Timmins, Financial Times, 1/7).