UK Set For New Life Sciences Strategy
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A government committee is launching an enquiry into how best to enhance the UK’s life sciences strategy in a bid to bring the sector up to the same standard as other countries.
The House of Lords Science and Technology Committee has been consulting on life sciences and recently announced that it wants the country’s life sciences sector to be an appealing area for investment in order to meet industry challenges like dementia and cancer.
With Brexit looming and the difficulties in making innovative new treatments available through the NHS, the committee plans to investigate whether the government can support the sector and how the NHS can stimulate innovation through procurement.
The life sciences consulting enquiry will assess the impact of the 2011 Life Science Strategy and consider how the regulatory framework should be changed or improved after Brexit, as well as determining who should be responsible for implementing the Life Sciences Industrial Strategy.
Chairman of the committee Lord Patel said that the life sciences sector contributed £30.7 billion to the economy in 2015 and supports 480,000 jobs, according to research. However, the UK industry lags behind other nations in terms of innovation and investment.
“While it is high-tech, research-intensive and innovative it can only remain this way if it has the correct leadership and is properly funded,” he said.
Commenting on the announcement, life sciences expert Adrian Murray, of law firm Pinsent Masons, told Out-Law.com that the news was encouraging and underlined the government’s commitment to the life sciences sector in the face of challenges like Brexit and the “seemingly inevitable loss of the European Medicines Agency from London”.
The committee is welcoming written evidence to shape the new strategy until September 15th.