UK opposition party would 'seize research;' form national drugmaker

Speaking at his party’s annual conference in Brighton, UK, Labour leader Jeremy Corbyn said he would legislate to create a state-run generic drugs firm, if elected.

Dubbed “Medicines For The Many,” the legislation would also permit compulsory licensing to obtain generic versions of branded products in certain cases, as well as provisions to force pharmaceutical firms to lower prices in return for research funding.

Controversy over drug pricing has been inflamed by a long-running standoff between Vertex Pharmaceuticals' (Nasdaq: VRTX) and the UK’s reimbursement agency, the NICE, over the price of Orkambi (lumacaftor/ivacaftor).