NICE hits out at pharma profits

The drug industry is overpricing new medicines to boost profits, the chairman of NICE has warned.

Speaking to The Observer last week, Professor Sir Michael Rawlins accused drug companies of using 'perverse incentives' like linking the pay of pharmaceutical company executives to their firm's share price to hike up the price of new drugs.

His comments come after NICE was accused by cancer charities of sentencing kidney cancer patients to an early death by refusing to approve the use of the drugs Sutent and Nexavar on the NHS because they were not deemed to be cost effective.

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