This week, the UK Government announced its spring budget, with a £10m package awarded to the Medicines and Healthcare products Regulatory Agency (MHRA) to develop processes to bring new medicines to market, faster.
A key feature of this to improve speed of access to ‘best-in-class’ medicines where they have already been approved in other countries such as the USA and Japan. This means that the MHRA will develop a new adoption pathway in conjunction with the FDA in the USA, and the PMDA in Japan, to give a near automatic sign off for treatments that have already been rigorously evaluated.
The move by the UK Government follows their call for a ‘Pro-innovation Regulation of Technologies Review’, to evaluate faster and more agile access to medicines. This builds upon the MHRA’s success as the first competent authority in the world to have approved a COVID-19 vaccine, in record time.
The target now is to have a new swift approval process for the potentially most impactful new medicines, by 2024. This is a prominent and exciting development for pharmaceutical companies seeking to enter the UK market.
https://www.gov.uk/government/news/mhra-to-receive-10m-from-hm-treasury-to-fast-track-
patient-access-to-cutting-edge-medical-products
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