Regulating the price of the UK's drugs: Second thoughts after the government's first report

Few industries in the UK are directly subject to profit regulation by central government One such industry is the pharmaceutical industry supplying drugs to the NHS, which has had its profits regulated since 1969. Yet only in May 1996 did the government produce its first annual report on the regulatory scheme, and even then the report fails to cast much light on the scheme. In particular, there are seven major problems with the regulations and the way they are negotiated: they lack robust reasoning, a theoretical basis, an empirical basis, transparency, accountability, due process, and an analysis of their impact Moreover, patients and health professionals are excluded from the bargaining process. All these problems could be resolved if the political will to debate them emerges.