Don’t panic about medicines: we spend more because we buy better

In 2025, the National Health Service spent nearly 25 billion on medicines, accounting for 18.44 per cent of the Health Fund. This is a significant figure, but it would be wrong to interpret it as uncontrolled growth in consumption. Prescriptions remain stable. The real increase comes from direct purchases, which exceed 17 billion. This is where the battle is being fought: oncology, biologics, rare diseases. We are spending more because medicine is capable of more. The problem is how to manage this evolution without every advance turning into a permanent crisis. Spending on innovative medicines has fallen by 178 million, but not because less is being invested: some medicines ceased to meet the innovation criteria from 1 January 2025 and are no longer covered by the fund. This is an accounting effect, not a step backwards for science. An ageing society and an improving medical field cannot be managed using the logic of day-to-day administration. The question is not how to spend less, but how to spend better. If the National Health Service wishes to remain universal, it must view the pharmaceutical sector as a tool for reducing hospital admissions and inequalities. The challenge is to build a system capable of supporting innovation.