There has been concern from certain areas of the media that AstraZeneca’s announcement of its new restructuring initiatives is a sign that the UK industry is at risk – this is not the case.
The AstraZeneca announcement is due to global restructuring designed to improve productivity and strengthen the company’s commercial, operations and research and development capabilities. AstraZeneca has a long history of investment as a big employer and contributor to the economy as well as the progress of innovation in life sciences. That will continue.
The industry has modernised in recent years – we have moved beyond purchaser and seller transactional relationships to a more integrated partnership model. Innovative research companies large, medium and small are working closer together, just as industry is partnering more closely with the NHS, charities and academia.
The industry has had to modernise, and the Government has proven supportive of the innovative research sector and continues to encourage investment and growth in the life sciences sector. The UK remains a global leader in science and healthcare and huge levels of R&D investment continue to take place.
The government needs to continue do all it can to incentivise investment – recent initiatives like the patent box have been positive, but they must follow through on the promises made in the Autumn Package. The government will need to reward innovation by designing a pricing scheme that values innovation and encourages R&D to take place in the UK.
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We represent innovative research-based biopharmaceutical companies, both large 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 90 per cent of the current medicines pipeline, ensuring that the UK remains at the forefront of helping patients prevent and overcome diseases.
We are the Government recognised body negotiating the pricing of branded medicines on behalf of the entire industry. Working with our Research Affiliate Members, we promote the UK as a destination of choice for international life sciences investment.