NHS Reimbursement Gap Leaves Pharmacies Rationing Essential Medicines

The National Pharmacy Association warned in January 2026 that the NHS underfunds vital medicines by up to 80%, forcing dispensing pharmacies to absorb losses and economically restrict their stocks of essential drugs. When reimbursement rates fall below acquisition costs, pharmacies face a choice: lose money or limit supply. That structural mismatch sits beneath the current shortage crisis, independent of whether drugs are physically available.