By Alistair Smout
LONDON, July 16 (Reuters}
The eight sectors prioritized by the UK government, otherwise referenced to as the IS-8 are clean energy industries, defense, creative industries, life sciences, business and professional services, digital and technologies, financial services, advanced manufacturing. Industry figures have voiced dissatisfaction with Britain’s tough pricing regime which they say prioritizes low costs over investing in innovation and securing access to the latest medicine.
While there was still an impasse on drug pricing, the government released the sector plan, which noted “intense competition for investment” and pledged to reform the regulation of medicine so more drugs get to the state-run National Health Service quicker.
However, the Association of the British Pharmaceutical Industry (ABPI) said the plan was
“not enough to turn around the UK’s decline”
and Britain still needed to address
“the long-term disinvestment in innovative medicines.”
“For too long, the UK has sought to be the place where innovation happens, but not the place where it is used,”
said Richard Torbett, chief executive of the ABPI.
A strategically driven focus by the UK
The government cited supportive comments from pharma firms GSK, Moderna and BioNTech for its plan, even as industry sources said the unresolved drug-pricing talks were an “elephant in the room.” AstraZeneca, the UK stock market’s most valuable company, was not quoted in support of the sector plan in the government’s statement. Earlier this month, the company declined to comment on a Times report that it was considering shifting its stock market listing to the United States.
Tony Wood, chief scientific officer at GSK, said he welcomed reforms to incentivize more clinical trials and create a new lab network to accelerate drug discovery and development. But a GSK spokesperson added it was
“critical that the UK also takes action with this new plan to recognize the value of innovative new medicines and vaccines for patients.”
Torbett said ABPI was in the
“final stages of an intensive discussion”
on drug pricing, to
“get these issues out of the way and allow our sector to deliver on its potential.”
The UK government has a deep commitment to drive health innovation and work on NHS reform within the country. The LSSP in itself is more detailed on the efforts that will be made to grow not only the volume but also the quality of industrial sciences within the UK. To make this a success, it requires buy-in from all relevant parties.