A new government study confirms that UK pharmaceutical companies are world leaders in Research & Development (R&D) and the key investors in British science, said the Association of the British Pharmaceutical Industry (ABPI) today.
24 Oct 2004 Posted in News Release By Press Office
Pharmaceutical companies head the list of UK R&D investors produced by the DTI, with GlaxoSmithKline and Astra Zeneca filling the top two positions.
"A vibrant, research-led pharmaceutical industry is crucial to creating the knowledge-based economy Britain needs to be successful in the 21st Century", said ABPI Director General Dr Richard Barker. "Money invested in UK R&D directly benefits patients- who receive the latest treatments- and supports UK science.
"But this level of investment will only be sustainable if the overall environment continues to be favourable - not just with regard to R&D. For the pharmaceutical industry to remain strong, all key environmental factors - from curbing the actions of animal rights extremists, to promoting a strongly collaborative relationship with the NHS - must be actively pursued so that investment will continue to be attracted to theUK."
The pharmaceutical industry invests some 36% of turnover back into R&D in the UK - £3.3 billion a year. In addition, nearly a quarter of the world's top 100 medicines were discovered and developed in Britain, more than any country except the US and the industry contributed a positive trade surplus of £3.6billion in 2003. Over 300,000 jobs rely on the pharmaceutical industry and the sector is one of the largest employers of science graduates.
For further information, please contact: ABPI Press Office 020 7747 1410