The UK’s pharma deal was essential - but GSK’'s boss was correct about US dominance

That’s gratitude, eh?

- Nils Pratley

It’s not even a fortnight since the government agreed to raise the prices the NHS pays for new medicines and here comes the boss of GSK, the UK’s second largest pharma firm, to extol the virtues of doing business in the US.The US is “still the leading market in the world in terms of the launches of new drugs and vaccines”, said the chief executive, Emma Walmsley, in a BBC interview, explaining why GSK invests about three times as much over there as it does at home. Alongside China, the US is also “the best market in the world to do business development”.

Her comments have caused a stir but, actually, they are merely a statement of reality. It would be absurd to pretend the UK has suddenly shot to the top of the competitiveness table in life sciences as a result of the multipronged price and tariffs deal at the start of this month.