A major drug maker said on Wednesday it is offering to make drugs for the UK’s NHS that are up to a million times cheaper than the existing options.
In a statement, Bristol-Myers Squibb said it will offer to pay for new drugs with a smaller percentage of a drug’s value.
That would allow a drugmaker to use less of a market than would otherwise be available.
Bristol-Myer said its first two drugs, known as LY-100 and CIM-7, will be given free to patients and will be offered for two years, compared to five years in the current plan.
It said it expects to launch a drug for use in people over 65 within five years.
The company said it plans to start taking on patients at the end of this year.
In September, the UK government announced that the NHS would pay up to £2bn to cover its £16.5bn drug bill.
The drugs have not yet been approved.