AstraZeneca (AZN) CEO Pascal Soriot has warned that if the U.K. does not increase spending on new drugs, it could eventually be limited to only affordable generics rather than cutting-edge treatments, The Guardian’s Julia Kollewe reports. His comments come amid tensions over drug pricing, which have led pharmaceutical companies to pause or cancel nearly $2.6B in U.K. investments this year. Soriot stressed that while this scenario isn’t imminent, long-term trends could make it a reality if spending patterns don’t change.
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