ABPI Urges Government to Invest in Life Sciences Post-Brexit or Risk Losing Companies
The Association of the British Pharmaceutical Industry has warned that Britain could become a "desert for healthcare innovation" unless the government gives the NHS billions more extra funding each year.
The body representing big pharma in the UK has said that it wants the UK government to protect patients and businesses in the sector by cementing the country's position as a leading global hub for the pharmaceutical and life sciences sector, which is currently worth £30bn.
Lisa Anson, who has recently become the new ABPI President, warned that drug companies may delay launching new medicines in the UK unless the government provided more funding to approve them. They may also choose not to conduct clinical trials in the UK if there was a lack of certainty about whether UK patients would receive new treatments. She has warned that unless more was spent on healthcare, Britain would jeopardise its research environment.
The UK had to invest £20bn extra per year if they wanted to be at the G7 average spend on healthcare of 11.3% of GDP.
The UK's life sciences sector has 5,500 companies and employs 140,000 people.
Mike Thompson, the Chief Executive of the ABPI, cited the opportunities for the UK in the sector post-Brexit:
"As we leave the EU, the new government's agenda will need to set out the UK's stall in the global marketplace. Alongside targeted investments in our science base and making the right choices in Brexit negotiations, we can cement the UK's position as a leading global hub for our industry."