On 27 November 2017, the Government launched its Industrial Strategy white paper. The Association of the British Pharmaceutical Industry (ABPI) – the trade group for the pharmaceutical industry in the UK – have welcomed the government's roadmap for business.
On 23 January 2017, the Government published its Industrial Strategy Green Paper. The paper gave a priority to the biopharmaceutical industry in recognition of its contribution to the UK economy.
On 30 August 2017, the Life Sciences Industrial Strategy was published. Life sciences is the first sector to publish an industrial strategy which shows its importance to the future of the UK's economic success.
The Life Sciences Industrial Strategy includes recommendations on how the Government might exploit the UK's existing strength in life sciences to increase the pace of economic growth in this sector. Its key recommendations include:
The ABPI was a member of the Life Sciences Industrial Strategy Board and helped to develop this Strategy.
The pharmaceutical sector's contribution to the UK economy
PwC published a new report on Monday 6 March 2017, The economic contribution of the UK Life Science industry, to determine the value added to the UK economy by the life sciences sector.
The pharmaceutical industry is a major contributor to the economy of the UK and brings life-saving and life-enhancing medicines to patients. The ABPI represents companies who supply more than 80 per cent of all branded medicines used by the NHS and who are researching and developing the majority of the current medicines pipeline, ensuring the UK remains at the forefront of helping patients prevent, manage and overcome disease. The UK biopharmaceutical industry has: