Aggregate net sales and payment information: May 2024
Published 31 July 2024
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Table 1: measured sales Q1 2024
| Year | 2024 voluntary scheme (£m) | Statutory scheme (£m) | Parallel imports (£m) | Total (£m) |
|---|---|---|---|---|
| 2023 Q1 | 3,038 | 149 | 176 | 3,363 |
| 2023 Q2 | 3,157 | 156 | 174 | 3,486 |
| 2023 Q3 | 3,169 | 180 | 165 | 3,514 |
| 2023 Q4 | 3,257 | 176 | 165 | 3,599 |
| 2023 | 12,598 | 661 | 680 | 13,939 |
| 2024 Q1 | 3,350 | 64 | 168 | 3,582 |
Table 1 notes
- Table 1 sets out aggregate information to date for calendar years 2023 and 2024 about measured sales subject to the affordability mechanism. It includes information received on parallel imports from IQVIA adjusted to net prices, and information from audited annual sales reports and unaudited quarterly sales reports provided by members of the 2019 and 2024 voluntary schemes and the statutory scheme.
- The baseline for measured sales in respect of the statutory scheme and parallel imports has been calculated in accordance with annex 4 of the 2024 voluntary scheme.
- Measured sales is defined in the glossary of the 2024 voluntary scheme for branded medicines pricing, access and growth as “sales of scheme products by scheme members, statutory scheme sales and parallel import sales, but excluding exemptions from measured sales”.
- Figures for the 2024 voluntary scheme reflect any audited sales reports received. Annual totals from 2024 onwards for the statutory scheme reflect any audited sales reports received.
- Measured sales in any particular period reflects all relevant scheme members in either the 2024 voluntary scheme or statutory scheme during that period. For example, if a company moves from the statutory scheme to the voluntary scheme at the start of a calendar year, that company’s measured sales will appear under the statutory scheme in the year it was covered by the regulations, and the voluntary scheme in the year the company joined the 2024 voluntary scheme for branded medicines pricing, access and growth (VPAG).
Table 2: 2024 voluntary scheme - eligible sales, resulting total scheme payments and payment element relating to VPAG investment programme
| Period | Aggregate eligible sales (£m) | Resulting aggregate scheme payments (£m) | Element of aggregate scheme payment relating to VPAG investment programme (£m) |
|---|---|---|---|
| 2024 Q1 | 3,056 | 597 | 1 |
Table 2 notes
Table 2, which is derived from unaudited quarterly sales reports and any audited annual sales reports received from members of the 2024 voluntary scheme, sets out aggregate information showing eligible sales covered by the scheme payment and the resulting scheme payments. It also reports the element of the total aggregate payment relating to the VPAG investment programme.
Eligible sales is defined in the glossary of the 2024 voluntary scheme as “sales of scheme products by scheme members but excluding exemptions from eligible sales”. The percentage payment applies to these sales. Eligible sales exclude certain types of sales, including the first £6 million of sales by a medium-sized company and new active substance (NAS) sales. Both of these sales categories are, however, included in measured sales and, therefore, the calculation of the overall sum to be repaid across all scheme members.
Table 3: statutory scheme - net sales covered by the statutory scheme payment and resulting payments
For 2023:
| Statutory Scheme payment and resulting payments | Jan to Mar 2023 (£m) | Apr to Jun 2023 (£m) | Jul to Sep 2023 (£m) | Oct to Dec 2023 (£m) | 2023 (£m) |
|---|---|---|---|---|---|
| Aggregate net sales covered by the applicable annual statutory scheme payment | 149 | 156 | 180 | 176 | 661 |
| Total resulting statutory scheme payment | 36 | 45 | 51 | 50 | 183 |
For 2024:
| Statutory Scheme payment and resulting payments | Jan to Mar 2024 (£m) |
|---|---|
| Aggregate net sales covered by the applicable annual statutory scheme payment | 63 |
| Total resulting statutory scheme payment | 14 |
Table 3 notes
Table 3 is derived from unaudited statutory scheme sales reports. It sets out aggregate information showing net sales covered by the statutory scheme payment and the resulting payments.
General notes
- The information in all tables is that held on the Department of Health and Social Care’s database at 17 May 2024.
- Totals may not sum due to rounding.
- All tables are subject to future correction such as where audited data replaces best available data and will be updated at each quarterly publication point to reflect the latest available information. The audit and reconciliation arrangements are set out in paragraphs 4.68 to 4.74 of the 2024 voluntary scheme. The statutory scheme audit requirements are set out at paragraph 23 of the regulations.
- As set out in the scheme documentation, a 2-stage voluntary scheme-end reconciliation (ESR) process to address any outstanding under or over payments will reflect the fact that final audited and de-facto audited annual sales reports for 2027 and 2028 will not be received until 2029 and 2030, at the earliest, respectively. It will also account for any remaining rounding impact.
- Following the close of the third quarter of 2029, the department should have received audited or de-facto audited returns for measured sales made in 2027, and updated data for measured sales made in 2028. This may be a mix of audited returns for scheme members with a financial year end of December, and unaudited returns for scheme members whose financial year end date differs from the calendar year end, or who have been delayed in providing their audited returns. This data will be used to calculate a revised payment percentage and corresponding payment for 2028. The revised payment percentage will be calculated to 2 decimal places. Any change arising in the payment due from scheme members following the revision of the 2028 payment percentage will be payable (or refundable) in the first quarter of 2030. This process will repeat following receipt of audited and de-facto audited returns for measured sales made in 2028 a year later.