The UK government said that the aim is for each of the four governments to set out their action plans later this year.
"Key to the achievement of the priorities is an environment in the UK that can attract investment and the right talent for R&D in emerging life sciences fields, such as genomics and cell and gene therapy," said life sciences expert Krishna Kakkaiyadi of Pinsent Masons. "By recognising these needs, the government has hopefully signalled that favourable fiscal and policy initiatives will follow."
The Association of the British Pharmaceutical Industry (ABPI), a trade association representing the interests of pharmaceutical companies in the UK developing new medicines, has welcomed the new framework, as has the UK BioIndustry Assocation (BIA).
Haseeb Ahmed president of the ABPI said: "Cutting edge research means that there will be even more exciting, new treatments developed for rare disease patients."
Steve Bates, chief executive of the BIA said: "Ensuring appraisal processes are ready to deal with the next generation of treatments will be vital." The BIA's recent report, entitled 'A Rare Chance for Reform', set out proposals for change in relation to access to medicines for rare diseases. Both the BIA and ABPI will work with all four UK nations as they develop their action plans.
Lord Bethell, health minister in England, said: "I want the experiences of those living with a rare disease to shape the priorities of government to make sure our policies work for them. We can harness the potential of new technologies, including genomics, to support earlier detection and faster diagnosis of disease, tailor and target treatments."