ABPI comment on UK-US trade agreement

ABPI comment on UK-US trade agreement

The UK government has announced a trade agreement with the US.

The UK-US Economic Prosperity Deal was agreed on Thursday 8 May with further details released on Friday 9 May UK time.

Responding to the news, Richard Torbett, ABPI Chief Executive said: “We thank the government for its continued efforts that have led to this essential first-step agreement with the US.

“Although this initial deal is only a first step for pharmaceutical products, we remain convinced that reaching a favourable outcome remains possible and in the interests of both countries. Free trade between the UK and the US is critical to supply chain resilience, ensuring patients in both countries have access to the medicines and vaccines they need. US tariffs on UK pharmaceuticals run counter to that goal and should be avoided.

“The UK and US are leading partners in life science innovation with deeply interconnected research networks and supply chains that work for both countries. We will work with UK and US officials to support them in reaching an agreement which allows our sector to flourish in both countries.”

“We will also continue our discussions with the UK government to ensure Britain’s life science sector can return to international competitiveness to enhance UK attractiveness as a destination for inward investment.”

About the Association of the British Pharmaceutical Industry (ABPI)

The ABPI exists to make the UK the best place in the world to research, develop and access medicines and vaccines to improve patient care.

We represent companies of all sizes which invest in making and discovering medicines and vaccines to enhance and save the lives of millions of people around the world.

In England, Scotland, Wales and Northern Ireland, we work in partnership with governments and the NHS so that patients can get new treatments faster and the NHS can plan how much it spends on medicines. Every day, our members partner with healthcare professionals, academics and patient organisations to find new solutions to unmet health needs