Britain’s ambitions to construct a world-leading life sciences trade are being undermined by falling funding and mounting criticism from world pharmaceutical teams, based on a stark new report.
The Affiliation of the British Pharmaceutical Trade (ABPI), working with PwC, has warned that the UK is “dropping the race” to draw overseas direct funding, citing a poisonous mixture of poor entry to revolutionary medicines, low authorities help and unpredictable NHS pricing clawbacks.
The 50-page research benchmarked the UK towards worldwide friends on 48 competitiveness indicators and located overseas funding in life sciences had slumped to £795 million in 2023—58 per cent beneath 2017 ranges—pushing Britain right down to seventh place in world rankings from a excessive of second solely two years earlier. Pharmaceutical R&D has additionally slowed markedly, rising at simply 1.9 per cent yearly since 2020, towards a worldwide common of 6.6 per cent.
The warnings come as Merck scrapped plans for a £1 billion London analysis hub and minimize 125 jobs, whereas AstraZeneca deserted a £450 million vaccine web site enlargement in Liverpool. Eli Lilly and Sanofi have additionally sounded the alarm, with UK operations paused or scaled again till authorities coverage turns into clearer. Executives say the sector’s world-class analysis infrastructure, tutorial establishments and thriving biotech ecosystem are being overshadowed by rising regulation and diminishing confidence within the UK market.
The findings threaten to undercut Labour’s industrial technique, which has recognized life sciences as one among eight key progress sectors. Ministers insist Britain stays probably the most engaging vacation spot for all times sciences funding, pointing to new funds and partnerships, however trade leaders warn pressing motion is required if the UK is to compete with the US, China and European rivals for the following technology of drug discovery and improvement.
