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The UK must act swiftly to fend off competition if it wants to build the world's leading life sciences sciences hub, a new report suggests. A year on from the launch of the government's life science vision, the report commissioned by the the Association of the British Pharmaceutical Industry said although achieving the ambition remained feasible, the UK would need an attractive business environment because its competitor countries were becoming more adept at attracting investment. To achieve the ambition of the vision, the PwC-produced report suggested raising pharmaceutical R&D investment in the UK to build a 'stronger manufacturing and research infrastructure', alongside better investment in, access to and uptake of innovative medicines. It said the UK would also need to adopt a renewed approach to the priority healthcare challenges identified in the government's 'Life Science Vision', which would mean cutting the overall burden on health of dementia, cancer, cardiovascular and respiratory disease and mental health. The report quantified the size of the prize if the vision was implemented in full and the UK could emulate the successes of leading EU countries, which included: £68 billion in additional GDP over 30 years, owing to increased R&D investment £16.3 billion additional annual GDP from increased pharmaceutical exports Supporting 85,000 additional jobs Up to 40 per cent decrease in disease burden across the whole UK - for areas like cardiovascular disease, mental health conditions and Cancer. Reduced variation in speed of access to new medicines within three months of licensing for all NHS patients.

Darren Jones MP, the Shadow Chief Secretary to the Treasury, visited Sigma Pharmaceuticals plc's new Watford facility on Thursday (6 June) as part of the imminent Labour Party campaign trail. Jones was joined by Labour's prospective parliamentary candidate for Watford, Matt Turmaine, and a team of campaign workers. During their visit, the Labour delegation met with the directors and founding member of Sigma, Dr Bharat Shah CBE, and discussed the importance of investment and support for growing businesses and the pharmaceutical sector both in the region and across the country. Sigma Pharmaceuticals, which is believed to be Watford's largest employer, noted that the pharmaceutical sector contributes a significant value to the East of England, accounting for 12.3 per cent of the region's manufacturing gross value added (GVA).

The Association of the British Pharmaceutical Industry (ABPI) has issued a challenge to all political parties to outline detailed plans aimed at maximising the industry's role in driving UK health and economic prosperity. In 2022, the pharmaceutical sector invested £9 billion in UK research and development, generating £16.4 billion in economic value and sustaining 126,000 high-skilled jobs nationwide. Ahead of the 2024 general elections, ABPI's Manifesto for Investment, Health, and Growth outlines a strategic framework to enhance patient care within the NHS. It includes expanding access to new medicines through clinical trials and bolstering domestic manufacturing capabilities. It also includes creating additional high-skilled employment opportunities across the UK. As per the association, the potential impact of these initiatives is substantial.

The government, NHS England and the Association of the British Pharmaceutical Industry (ABPI) has begun the negotiations for a new voluntary scheme for branded medicines pricing on Thursday (4 May). A new voluntary scheme is expected to take effect from 1 January 2024, replacing the current scheme which came into force in 2019 and ends on 31 December 2023 In their first meeting, the government, NHS England and industry - represented by the ABPI -expected to agree to a shared negotiation aim of working toward a mutually beneficial agreement that supports better patient outcomes and a healthier population, a financially sustainable NHS, and UK economic growth. Health Minister, Will Quince, said: "These negotiations will ensure a new scheme continues to deliver value for money by providing significant savings for our health services, securing access to innovative lifesaving drugs for NHS patients, and helping to reduce waiting times - one of the Prime Minister's 5 priorities. The current voluntary scheme supports investment in NHS services and saves billions of pounds for the NHS, while also promoting innovations and a successful life sciences sector.

Orphan Drug development specialist TMC Pharma has appointed Gordon Cameron to its board as a non-executive director. Mr Cameron has 25 years' board-level experience in biotech and pharmaceutical services sectors. He started his career with EY, then spent several years in investment banking at Rothschild before becoming CFO, and then CEO, of international vaccine company Acambis. For the past 15 years, Mr Cameron has been CFO of Quotient Sciences, an international Contract Development and Manufacturing Organisation and Clinical Research Organisation. In 2004, he was awarded the Officer of the Order of the British Empire for services to the British biotechnology industry. Julie Matthews, chief executive officer of TMC Pharma, said that the new appointment would "enhance our strategic capability and tactical execution as we consolidate our position as a global leader in the Orphan Drug development market."