Life Sciences Sector Deal Announced
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News
The UK government has unveiled a new sector deal with the UK’s life sciences industry, which will see what the Department of Business, Energy, Innovation and Skills is describing as “significant investment” from 25 companies operating in the sector.
Under the new strategy are proposals to help the sector modernise, boosting both large and small firms that operate in this area, as well as ensuring the life sciences companies are well placed to respond to the challenges and opportunities that lie ahead.
MSD, which is known as Merck and Co. Inc in the USA, will be providing major investment in the sector by funding a new life sciences discovery research facility and headquarters. This is expected to support 950 jobs, including 150 new high-skilled research positions.
Jeremy Hunt, health secretary, commented: “The UK has a huge amount to offer the life sciences sector, combining globally renowned scientific research bases with our world-leading NHS which allows innovators to test and refine products at scale.”
Other large companies that have also announced that they will be investing in the sector are The Medicines Company, Johnson & Johnson and GSK.
GSK will be providing £40 million to support genetic research and use advances in this field to further the development of new medicines.
President of R&D at the firm Patrick Vallance said that the UK already has world-leading status in the area of genomics and bioinformatics, but that this and other investment will help strengthen this field in the life sciences sector.
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