Pharmaceutical industry’s soaring rebates to NHS ‘are hitting investment’ | Business

Drugs industry bosses are pressing the government to overhaul an “out of control” levy that is hitting investment and jobs.

Richard Torbett, chief executive of the Association of the British Pharmaceutical Industry, said the soaring cost of the levy was affecting boardroom decisions about employment and the launch of new medicines in Britain and was a “major headwind” to the UK’s status as a life sciences superpower.

“The amount of money that the government is requiring the industry to pay back has gone up and up and up in a very dramatic way in the last couple of years and it may go up further — and it’s causing significant alarm among global leaders,” he said.

The calls come ahead of a meeting of the

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