Contracted-out rebate meaning

Deal headlines Zero tariffs on UK pharmaceutical exports to the US will continue until 2028 The UK reports it has secured ‘mitigations’ under the US ‘Most Favoured Nation’ (MFN) drug pricing initiative, though what these entail remains unclear Plans are underway to raise the thresholds used by the National Institute for Health and Care Excellence (NICE) to assess whether new medicines are cost-effective for NHS use by 17%–25%. In principle, this should lead to more favourable reimbursement outcomes in the UK at prices that better reflect the substantial R&D investment required to bring novel therapies to market The agreement also introduces, for 2026 to 2028, a 15% cap under the ‘VPAG’ scheme on rebates payable by pharmaceutical firms to the UK government on net NHS sales of newer medicines Over the next decade, the UK government will lift its spending on new medicines from 0.3% to 0.6% of GDP We set out below how these developments could influence the UK...

CASE HUB ARCHIVED This archived case hub sets out the position as at the judgment of 6 October 2015 and is not being maintained. For further details, see: timeline, commentary and related/relevant cases. Case facts Outline A reference from Denmark’s Sø- og Handelsret (the national maritime and commercial court) was submitted to the Court of Justice seeking a preliminary ruling under Article 267 TFEU. Among other matters, it asked whether, when assessing the anti-competitive character of rebate schemes under Article 102 TFEU, the law requires a price/cost evaluation comparing the dominant undertaking’s conduct with that of an equally efficient competitor (the ‘as-efficient-competitor’ test), and also whether any exclusionary effect arising from the rebate arrangement must be ‘appreciable’ in order to fall within Article 102 TFEU...

This Practice Note sets out the situations and procedures by which a borrower can bring a credit agreement to an early close. Introduction to early settlement Borrowers may terminate regulated agreements at any time by giving statutory notice and paying the sums then due, less any rebate (Consumer Credit Act 1974, s 94 (CCA 1974)). Unless the agreement is secured on land, they are entitled as of right to clear all or part of what they owe. Contracting out is prohibited; creditors cannot remove the right to early settlement or make it conditional. When can borrowers settle early? Borrowers under a regulated consumer credit agreement may settle some or all of the agreement at any time, provided they: give notice to the creditor; and pay all amounts then due under the agreement. Notice The CCA 1974 sets no requirements for the form or content of an early settlement notice. Except where the agreement is secured on land, the...

Temporary changes to Statutory Sick Pay (SSP) During the coronavirus (COVID-19) pandemic, the government brought in several temporary measures governing access to Statutory Sick Pay (SSP) and the underlying SSP rules. Following the decision to lift coronavirus restrictions in 2022—and, in particular, the publication of the plan for living with COVID-19 on 21 February 2022—those measures have been rolled back. The temporary SSP changes introduced during the pandemic, together with a brief summary of how they were withdrawn, are set out below: Individuals who self-isolated or were required to shield at various times due to coronavirus could be treated as incapable of work and, therefore, entitled to SSP (see: SSP entitlement extended to those who self-isolate below). These deeming provisions were revoked by the Statutory Sick Pay (General) (Coronavirus Amendment) Regulations 2022, SI 2022/380, with effect from 25 March 2022 (see: LNB News 25/03/2022 5). From 25 March 2022, if an employee tests positive for coronavirus, they qualify for SSP only if they are too unwell...