The Medicines and Healthcare products Regulatory Agency (MHRA) and the National Institute for Health and Care Excellence (NICE) have set out plans to deliver faster access to medicines for patients under the 10-Year Health Plan.

Under a joint information sharing agreement, pharmaceutical companies will be invited to register early with both agencies to allow parallel decision making over licensing and value.

It is hoped this will mean more medicines receive approval for use on the NHS in England at the same time as they are licensed for use in the UK.

As a result, it is expected that patients in England will receive the newest medicines 3-6 months earlier as a result.

Health and social care secretary, Wes Streeting, said: “This government is slashing red tape and turbocharging economic growth of the life sciences sector so patients can get the innovative treatments they need, faster.

“To save our NHS and make it fit for the future we have to do things differently. By having two of our most important regulators join forces we’ll rapidly remove barriers, get patients access to vital medicines, and grow the economy.

“With a technological and life sciences revolution taking place, Britain should be at the forefront of it. Our 10 Year Health Plan and Life Sciences Sector Plan will help us drive the breakthroughs we need to be best in class and boost growth across the country.”

Lawrence Tallon, chief executive of the MHRA, said: “We are completely focused on making sure patients can benefit from safe, effective and affordable medicines and treatments as soon as possible.

“We are working in closer partnership with NICE to build a faster and more efficient regulatory system, designed to accelerate UK market entry and deliver innovative, life-changing treatments to NHS patients faster.

“This marks an important step in delivering smarter regulation – strengthening UK’s global life sciences offer and reinforcing our position as an attractive destination for innovation and international investment.”