UK’s Life Sciences Performance ‘Mixed’

There is a mixed picture when you look at data to see how the UK’s life sciences industry is performing in comparison to its European neighbours.

In an article for Pharmaphorum, Leela Barham explored the various indicators that give an overall view of how the sector is doing. She has examined data from as far back as 2009, up to the most recent information available, which for the most part is from 2015.

There are some areas where the UK is on a par or ahead of its European counterparts, such as pharmaceutical R&D spend, and the number of foreign direct investment projects that have been set up in the country between 2012 and 2016.

In other areas, such as private equity investment in R&D spend, the UK has experienced growth in recent years, but is still a long way behind economies such as Germany. One indicator where the UK tops the list though, is in government R&D spend, which has remained consistently high since 2009.

However, in other aspects the country is not performing as well as some of its main European competitors. For instance, employment in the pharmaceutical industry has declined considerably since 2012, while the trade balance has also fallen since 2009.

With a new pharmaceutical price regulation scheme set to be agreed over the coming year though, there are opportunities to boost the industry. The government’s announcement towards the end of last year of a sector deal for the life sciences industry is expected to help support the industry too, through a number of partnerships between government and private firms.

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