Government urged to back UK life sciences sector
A new White Paper which calls for a stronger policy that can sustain the UK 's position as a leading global player in life sciences, has been released by transatlantic trade body BritishAmerican Business (BAB).
BAB says that although the life sciences sector has been a success story for the UK over many years, its foundations are starting to weaken and the sector needs the government to take immediate action to ensure its long-term success.
BAB 's White Paper puts forward a set of recommendations that will support the UK 's position as a leading global player in the field - attract investment from transatlantic companies and help people access medicines, prevent disease and live longer, healthier lives.
The report recommends that the UK Government focus its efforts on three areas - commercial environment, clinical trials and trade and intellectual property.
BritishAmerican Business CEO Duncan Edwards (pictured) said: “The future of the UK life sciences sector is at stake and never has the industry faced such an important inflection point.
“The benefits of a thriving life sciences industry in the UK are immense and can lead to better health outcomes and strong economic growth. The UK is in desperate need of both.
“Yet, with an increasingly unfavourable commercial environment and a decline in clinical trial activity, the UK is risking its competitive advantage in the sector as other countries vie for future life sciences investment.
“Delivering on the recommendations outlined in this report will go a long way to ensuring the UK restores its competitive edge in the life sciences sector. BritishAmerican Business stands ready to support the UK government as it implements its 'UK Life Sciences Vision ' to deliver for patients, business and the wider UK economy. ”
The White Paper has been produced in partnership with biopharmaceutical giants MSD, whose UK and Ireland managing director Ben Lucas said: “We are delighted to have partnered with BritishAmerican Business on such an important report for the UK life sciences sector at what is a critical time for action, to ensure full delivery of the Life Sciences Vision and a stable commercial environment.
“The UK can grow a thriving life sciences ecosystem and remain a global competitive investment destination for decades to come.
“For that to happen, we need focused, collaborative action to address the challenges highlighted by this report, to instil confidence to invest and crucially to enable us to bring the benefits of innovation to UK patients swiftly, now and in the future. ”