21 Jul 2014 Posted in News Release By Press Office
Each company in this group invests in manufacturing and/or research facilities in the UK – investment which could be transferred anywhere in the world. Collectively they employ over 7,500 staff across 20 different sites providing highly skilled employment in manufacturing and research. The pharmaceutical industry as a whole currently generates a trade surplus of £5bn for the UK per year1.
Commenting on the launch of the group, Steve Arnold, Chair of the ABPI Inward Investor Group and Managing Director of UCB in the British and Irish Isles, said:
“I am delighted with the opportunity to lead the Inward Investors Group on behalf of the ABPI. The government has made great progress in their support for the life sciences over the last five years and we will continue to work constructively to ensure that the UK remains a natural destination when global Chief Executives make difficult investment decisions.
“I believe this group will play a central role in this debate and also help government ensure that the UK remains globally competitive - retaining existing investment and bringing more research here in future.”
Commenting on the establishment of the Group ABPI Chief Executive, Stephen Whitehead, said:
“The pharmaceutical industry is the jewel in the UK’s scientific and industrial crown. The formation of this group presents an opportunity to ensure that this remains the case by bringing together the collective views of inward investors and looking at specific policies to make the UK more attractive.
“The UK Life Sciences strategy showed that there have been successes, but we also need to be realistic in our appraisal and acknowledge that a lot more needs to be done to ensure that patients truly benefit from the innovation that exists in the life sciences sector. I believe that the Inward Investor Group can be a catalyst in achieving this.”
The Group will report to the ABPI Board of Management and shall meet quarterly.
Members of the ABPI Inward Investor Group:
1HM Revenue and Customs, UK Trade Info 2012, February 2013
The ABPI represents innovative research-based biopharmaceutical companies, large, medium and small, leading an exciting new era of biosciences in the UK.
Our industry, a major contributor to the economy of the UK, brings life-saving and life-enhancing medicines to patients. Our members supply 90 per cent of all medicines used by the NHS, and are researching and developing over two-thirds of the current medicines pipeline, ensuring that the UK remains at the forefront of helping patients prevent and overcome diseases.
The ABPI is recognised by government as the industry body negotiating on behalf of the branded pharmaceutical industry, for statutory consultation requirements including the pricing scheme for medicines in the UK.
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