I find it interesting that on the same day that the Financial Times reported the Chief Executive of NICE saying that the NHS medicine budget should not rise with inflation (because it's budget derives from taxation which is fixed) the UK Government announced that 18,000 admin posts are to be culled from NHS England and Integrated Care Boards (ICBs).
It sounds to me that the Government has already decided that the drug bill is inevitably going to rise (as the pharmaceutical companies have been urging) and that the increased payments will be met from funds released by the redundancies in non-front line NHS staff. That seems to me to be realism over Labour Party dogma.