Industrial policy targets life sciences
Sector employing 220,000 people first to reap benefits of review aiming to cut red tape and boost investment
BRITAIN’S £60bn life sciences sector, which employs more than 220,000 people, is expected to be the first to benefit from the Government’s industrial strategy report setting out policies to increase investment and cut red tape.
It is expected to contain recommendations to boost R&D, manufacturing and skills, as well as ways for the drugs industry to work better with the NHS – a topic in sharp focus after the industry launched a judicial review challenge to NHS drug pricing powers last week.
Theresa May, the Prime Minister, launched the strategy in January, with life sciences one five sector “winners”.
Sir John Bell, the Canadian-british immunologist and geneticist, is currently finalising his life sciences report – which has the backing of Number 10, Treasury and the business and health departments – with ministers pushing to launch it this summer. It is understood to be the most advanced sector report.
The Tories hope the revival of their industrial strategy will help it win back support from business, after an election campaign that was widely criticised for being anti-enterprise.
Sir John’s report will also look at ways of boosting the sector’s SMES, amid criticism there is a lack of midsize British commercial success stories in-between FTSE 100 giants GSK and Astrazeneca on the one hand and biotech start-ups on the other. A source familiar with the contents of the report said: “It will say there’s still huge international competition in pharmaceuticals and the UK compares extremely well, but could compete better.”
It has been compiled with input from 45 board members from all parts of the life sciences industry.
Steve Bates, chief executive of the Bioindustry Association, said: “We are delighted the sector has come together and is working speedily on this.”
Any proposal to bring industry and the NHS closer together is likely to be welcomed after the Association for British Pharmaceutical Industries (ABPI) launched a judicial review challenge against NHS drug price control powers.
The Sunday Telegraph revealed the action is being driven by the ABPI’S overseas members, which dominate its board 14 to two, rather than by British firms Astrazeneca and GSK.
On Friday, the health department launched an £86m fund for SMES to bid for funding to develop and test new technologies in the NHS.
A spokesman for the business, energy and industrial strategy department said: “In our Industrial Strategy green paper, the Government welcomed work on a number of early sector deals and reviews, including the industry-led Life Sciences Industrial Strategy under the leadership of Sir John Bell. We look forward to continuing our engagement with the sector and discussing with industry their specific proposals.”