The Prime Minister has today announced a series of measures to inject some momentum into the health life sciences sector. This high profile support sends a clear signal that the Government is backing of life science sector as an economic ‘winner’ and is open to working closely with industry to make its vision a reality. It also, however, exposes the Coalition to the potential fall out from any further job losses or significant closures in the future.
Anxiety about the retention of Britain’s advantage in life sciences has been driven by a series of widely reported decisions by global companies to reduce headcount. Concerted lobbying regarding the pressures affecting SMEs amid turbulent market conditions also added to the pressure on Government to be seen to taking action. Today’s announcements are designed to appeal to both multinationals and SMEs investing in Britain.
Appealing to industry, patients and academia: The Government has pledged to ensure the speedier adoption by the NHS of market ready innovations as well as additional help for researchers and start ups keen to turn their new discoveries into economic success stories. There will also be some comfort for patient groups with the promise of earlier access to pre-approved treatments and a robust focus to ensure the adherence to NICE guidance.
There is a strong political consensus around the need for the UK to retain and increase the number of highly skilled professionals employed by pharmaceutical companies and the amount of intellectual capital that the sector produces. There is also a tacit recognition that without reform and support, a significant threat exists to the public sector infrastructure that these companies rely on to make investment decisions.
Academia in particular will be looking at the Government’s approach to address funding shortfalls and a potential brain drain of staff to more lucrative research sectors in emerging economies with a keen interest. The NHS, for its part, is more acutely aware than ever of the need for it to become more commercially savvy driving innovation through clinical trials to the benefit of patients and service efficiency.
“if we are to remain competitive, we must up our game in the UK. We must use our fantastic science base to its fullest potential and be at the forefront of life sciences in [the] new landscape.” Rt Hon Andrew Lansley MP and Rt Hon David Willetts MP
