Analysts Hail Eli Lilly’s UK Life Sciences Investment
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The announcement in the autumn that American-based multinational pharmaceutical company Eli Lilly is to make a major investment in the UK in a partnership with the government has been hailed by a leading industry analyst as a step that could act as a catalyst for huge growth in life sciences across Britain.
Ophelia Chan, the lead analyst in business fundamentals at GlobalData, said of the announcement in October of a £279 million investment in the UK life sciences sector: “Lilly’s investment, coupled with the UK government’s support for life sciences and healthcare, marks a pivotal moment for the industry.”
She added: “By fostering innovation, tackling health challenges like obesity, and driving economic growth, this collaboration highlights the impact of public-private partnerships on national health and economic advancement.”
Life science telemarketing may be boosted most directly by the company’s focus on the development of new anti-obesity drugs, with Eli Lilly already producing medications like Zepbound.
Among the initiatives included in the investment will be a Lilly Gateway labs facility, which is designed to support start-ups in the UK life sciences sector and will be the first of its kind anywhere in Europe. Its features will include mentoring, financial support and the provision of lab space.
This could give emerging life-science firms in the UK a significant advantage over some of their European competitors, a view evidently held by Ms Chan.
Speaking at the time of the announcement, science and technology minister Peter Kyle hailed the deal as “proof that this sector is held in high esteem internationally and is driving investment into the UK”. If Ms Chan’s words prove true, this reputation should grow further.
Although the Lilly Gateway facility will be unique in Europe, the company does have European manufacturing facilities, based in the Republic of Ireland. In September it announced $1.8 billion of investment in the expansion of its plants in Limerick and Kinsale.