The British government is reportedly planning to offer higher payments for medicines purchased for the National Health Service (NHS), according to a report by the Financial Times on Friday. This move aims to address one of U.S. President Donald Trump’s major complaints after he announced steep tariff increases on branded medications.
British Prime Minister Keir Starmer’s chief business adviser, Varun Chandra, is expected to travel to Washington next week, the report added. Reuters was unable to immediately verify these claims.
President Trump has expressed frustration over the high cost of prescription drugs in the U.S., which are often nearly three times more expensive than in other countries. He has demanded that pharmaceutical companies lower prices in the U.S. while increasing them elsewhere. The proposed price increases in the U.K. could potentially offset the impact of U.S. price cuts on drugmakers’ revenues.
A spokesperson for the UK government did not directly confirm the Financial Times report but stated that Britain is engaged in constructive dialogue with both the U.S. and the pharmaceutical industry. “We will always put patients and taxpayers first, striking the right balance between creating an environment where this innovative sector can thrive whilst ensuring best value for money,” the spokesperson said.
Earlier on Friday, the British government announced that it was pressing the United States on pharmaceutical tariffs in hopes of achieving a beneficial outcome. This follows President Trump’s announcement of a potential 100% tariff on firms unless they establish manufacturing sites within the country.
Major British pharmaceutical companies such as AstraZeneca and GlaxoSmithKline have already set up manufacturing facilities in the U.S. and have announced plans for further investments.
The Trump administration has given drugmakers until September 29 to voluntarily lower prices for certain U.S. drugs, threatening tariffs if the president remains unsatisfied.