Labour’s plan to impose Soviet-style rules on drug firms plans ‘could cost lives’

Labour’s plan to impose Soviet-style rules on drug firms plans ‘could cost lives’

- in Usa News

PLANS by Labour for Soviet-style drug factories could put lives at risk.

Jeremy Corbyn warned pharma firms they must cut prices or hand over production to the state.


Fewer drugs would be developed under Labour’s plans, says Matt Kilcoyne of the Adam Smith Institute[/caption]

They could also lose out on billions in grants to fund new research.

But experts warned that the plan would discourage drug companies from any new investment.

Matt Kilcoyne, from the Adam Smith Institute, warned: “This could cost lives in future.

Less profit from discovering new medicines now will lead to fewer new medicines.
“Drugs are very expensive, time-consuming things to create but the capitalist system has produced more techniques and more medicine than ever before in history — with more people living longer and better lives as a result.”

Dr Richard Torbett, of the Association of the British Pharmaceutical Industry, said: “The seizure of new research is not the answer.”

Kate Andrews, associate director of the Institute of Economic Affairs, said: “Medical patents encourage manufacturers to create new, innovative drugs, which patients in the UK and across the world benefit from daily.

“Without them, patients are likely to suffer from worsening problems that already exist within the NHS: rationing, little patient choice, and lack of innovation in the market for drugs and new treatment.”

Mr Corbyn told the party conference: “We are the party that created the NHS. Only Labour can be trusted with its future.”

Alamy Live News

Mr Corbyn claimed only Labour should be trusted with the NHS[/caption]

It is the latest in a string of radical policies announced by Labour, including introducing a four-day week, handing unions 1970s style powers and abolishing private schools.

But a Labour spokesman yesterday denied they were waging “class war”.

He said: “This is the real centre ground of politics. It is not an issue of class war.”

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