At various points over the past decade, predicting the future of the NHS has felt like reading the tea leaves during an earthquake.
Structures change or revert, acronyms multiply and every incoming government promises transformation while discovering that the service resists sudden reinvention.
But the next general election may genuinely matter more than most for pharma, not because the NHS will disappear or suddenly privatise (it will not), but because the rules governing access, reimbursement and market predictability are up for renegotiation.
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