The U.K. and U.S. reached a trade arrangement that removes tariffs on British pharmaceutical exports in exchange for looser U.K. drug‑pricing constraints and a higher NICE cost‑effectiveness threshold. Under terms reported publicly, the U.S. agreed to a 0% tariff rate on U.K. drug exports for an initial multi‑year period while the U.K. will accept higher net spend and a temporary increase in its cost‑effectiveness ceiling. Officials and industry groups characterize the deal as a package to boost bilateral pharmaceutical trade and attract investment. Analysts note the agreement effectively shifts some pricing risk onto the U.K. health system while easing tariff‑related headwinds for manufacturers exporting to the U.S. The pact will reshape commercial assumptions for global drug launches, affecting revenue forecasts, negotiation tactics with payers and site selection for R&D and manufacturing investments.