1957	Voluntary Pricing Regulation Scheme established
1978	Voluntary Pricing Regulation Scheme was renamed to Prescription Pricing Regulation Scheme (PPRS)
1999	NICE established
2002	NICE advices NHS not to provide new multiple sclerosis drugs. The government establishes a risk-sharing scheme giving patients access to these drugs
2007	Office of Fair Trading recommends value-based pricing for all branded drugs
2008	Government negotiates a scope for price reductions on particular drugs through patient access schemes.
2009	NICE's end of life criteria raise the willingness-to-pay threshold for these drugs
2010	Government commitment to value-based pricing in next PPRS
2011	Government response to consultation on value-based pricing indicates that it will apply only to new drugs and give greater role to NICE
2013	Government response to House of Commons Health Committee report confirms NICE to take responsibility for value-based pricing
Late 2014	Value-based pricing for new drugs appraised by NICE (expected)