The Association of the British Pharmaceutical Industry's board unanimously agreed to not appeal a high court's decision to turn down its application for a judicial review of the National Institute for Health and Care Excellence's new cost rules for drugs.

Previously, the trade association of biopharmaceutical companies in the U.K. sought to challenge NICE's policy that limits funding of drugs expected to cost the U.K.'s National Health Service more than £20 million per year in any of the first three years of use.

The application was rejected by High Court Honourable Justice Elisabeth Laing.