ABPI highlights public misconceptions about value of medicines

The Association of the British Pharmaceutical Industry (ABPI) has highlighted a number of misconceptions held by the UK public about the value of medicines that it believes needs to be addressed.

A survey carried out by the industry body revealed that 35 percent of people believe that 20 percent or more of the NHS budget is spent on medicines, far higher than the actual figure of 9.7 percent for 2011.

Moreover, 59 percent of those questioned estimated that it costs less than ten million pounds to research and develop a new medicine, whereas the true cost is more than one billion pounds.

Stephen Whitehead, chief executive of the ABPI, also noted that the pharmaceutical sector contributes billions to the British economy each year and supplies 67,000 jobs.

He added: "In the coming months we will be doing much to educate people and patients of the facts about medicines – the huge benefits, the low prices and the high cost of development."

Last week, the organisation welcomed the introduction of the NHS Innovation Scorecard, a move designed to help ensure that new medicines are made available across England more promptly and consistently.