The announcement by a major Japanese-based pharmaceutical company of a multi-million pound investment in the UK was today welcomed by the Association of the British Pharmaceutical Industry (ABPI) – but it also warned that the country has to compete harder than ever to win future investment.
Capital expenditure by pharmaceutical companies in the UK has been declining since a peak of nearly £1,000 million in 2001 and, while the latest figures are still awaited, a further drop is expected.
“The UK is a world-player in researching and producing innovative medicines, but it is facing increasing competitive pressure, especially from emerging economies such as those of India, China and Singapore,” said Dr Richard Barker, ABPI Director General.
“No company can be expected to invest in the UK if the environment here is not sufficiently welcoming. Areas that the Government needs to watch carefully include the danger of over-regulating the industry and placing further pressure on prices for products that can advance the productivity of the NHS.
“While it is right that the NHS should get its medicines at a fair price, this has to be carefully balanced against the enormous benefits that the industry’s continued presence and investment bring to patients and to UK plc.”
The ABPI’s warning was delivered as Japan’s fourth largest pharmaceutical company, Eisai, announced a £75 million capital investment to develop a strategic European base in the UK. The new European hub will include the company’s European headquarters, basic research and clinical development and manufacturing as well as UK sales and marketing.
For further information, please contact: ABPI Press office: 020 7747 1410