We aim to abolish drug patents, which will reduce drug costs drastically, since all drugs would become generic. This innovation would save the NHS vast sums of money; part of that saving will then be used to subsidise drug research.
The pharmaceutical industry currently spends around 15% of its patent drug income on research; we would support that expenditure with subsidies made possible in savings from the NHS. This will increase research budgets, while still saving the NHS money.
This policy of making all drugs generic will create a massive opportunity for industry to make profits, employ more people and save lives by encouraging the manufacture of newly generic drugs in this country for sale to the third world.