The UK government has agreed the full text of a US‑UK pharmaceutical partnership, covering medicines and innovative medical devices and setting out changes to trade, pricing and access arrangements. The partnership provides that UK pharmaceutical exports to the US—worth at least £5 billion a year—will enter the US tariff free for at least three years, making the UK the only country to secure 0% tariffs on pharmaceutical exports to the US, and introduces stronger incentives for pharmaceutical companies to launch new treatments in the UK. The agreement extends preferential terms to medical technology exports, with no additional new tariffs on medtech for at least three years and includes cooperation towards mutual recognition of medical device approvals. Alongside this, the Voluntary Scheme for Branded Medicines Pricing, Access and Growth (VPAG) payment percentage payable by pharmaceutical companies on branded medicines sold to the NHS will be capped at a maximum of 15% until the scheme expires on 31 December 2028, a Joint Taskforce involving government, the UK life sciences industry, NHS England, the National Institute for Health and Care Excellence (NICE), and patient and charity groups has been launched to accelerate commercial medicine innovation with pilot schemes expected as early as September 2026, and the government has committed to increasing spending on innovative medicines as a proportion of GDP from 0.3% to 0.6% over the next ten years.