The National Institute of Health and Care Excellence, or NICE, has plans to institute hefty new drug assessment fees. Pharmaceutical companies will have to pay the UK based regulatory agency up to £282,000 for a cost-effectiveness assessment of each new medicine beginning in 2017.
NICE Chief Executive Sir Andrew Dillon released a statement on the new fees, saying “Charging pharmaceutical companies for the cost of considering their drugs for use in the NHS [National Health Service] may not be welcome but it is fair. Companies take risks in developing their products, but the NHS has to make millions of pounds available to put them into practice, frequently when relatively little is known about their use in ‘real world’ settings. The risks therefore need to be shared.”