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US pharmaceutical companies will “shut down” their sites in the UK if the NHS does not pay more for drugs, the US ambassador to the UK has warned.

Warren Stephens on Wednesday said further American businesses will axe future investments if “there are not changes made and fast”.

It comes as the Government is mulling raising the amount the health service in England pays firms for medicines by up to 25% under plans to stave off tariffs threatened by Donald Trump .

The row has been seen as a reason why US-based Merck and AstraZeneca cancelled or paused investments in t

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