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Espicom market intelligence, brought to you by Business Monitor International OVERVIEW OF THE PHARMACEUTICAL MARKET IN UNITED KINGDOM Drugmakers and governments will increasingly enter agreements that provide some form of risk- sharing or price protection for new drugs. Since most European governments, including the UK authorities, are focussing on cost containment in the healthcare sector, alternative pricing schemes for medicines allow for budget control, as well as providing patients with access to highly innovative treatments. Guidance drafted by the National Institute for Health and Clinical Excellence (NICE) has recommended the use of Bristol-Myers Squibb 's Yervoy (ipilimumab) and Roche's Zelboraf ( vemurafenib) for the treatment of advanced skin cancer. These are the first new drugs approved for routine use by the UK's National Health Service for the disease in more than a decade. While this is positive news for both drugmakers, NICE's stamp of approval came only after the manufacturers of both drugs agreed to offer discounts, overturning a prior rejection of the treatments by the watchdog. Headline Expenditure Projections: Pharmaceuticals : GBP23.81bn ( US$38.33bn) in 2011 to GBP23.74bn ( US$37.27bn) in 2012; -0.3% in local currency terms and -2.8% in US dollar terms. Forecast unchanged from Q4 12. Healthcare : GBP144.79bn ( US$232.99bn) in 2011 to GBP149.35bn ( US$234.48bn) in 2012; +3.2% in local currency terms and +0.6% in US dollar terms. Forecast unchanged from Q4 12. Medical devices : GBP5.89bn ( US$9.48nn) in 2011 to GBP5.93bn ( US$9.30bn) in 2012; +0.6% in local currency terms and -1.9% in US dollar terms. Forecast unchanged from Q4 12.