The Labour party has today published its plan for life sciences, aimed at transforming how medical treatments are discovered and delivered.
Labour’s life sciences plan would keep some current conservative policies, such as research and development tax credits, and a continuation of the Life Sciences Council.
Life Sciences Industry
The Labour Party announced plans it said would increase research and development in Britain’s pharmaceutical industry by £10 billion a year if it comes into power following an election expected later this year. Proposals for the life sciences industry included a Regulatory Innovation Office to hold regulators accountable for delays in bringing innovations to Britain and a plan to unlock pension funds for investment in innovative businesses.
Other proposals put forward by Labour include plans to more effectively use the massive troves of patient data within the National Health Service and provide a single access point for researchers to use data from all genomic resources. It also wants to set 10-year budgets for institutions such as UK Research and Innovation — compared to the three year budgets currently set.
Labour is seeking to position itself as the party British business should embrace, rather than the incumbent Conservative government, which has been criticized by the pharmaceutical industry for drawn-out negotiations over drug prices which have harmed the investment attractiveness of the UK.
APBI’s Response
The ABPI says it exists to make the UK the best place in the world to research, develop and use new medicines and vaccines. It represents companies of all sizes who invest in discovering the medicines of the future.
The strategy emphasises the need to encourage investment in the pharmaceutical sector. In response, Richard Torbett, the ABPI’s Chief Executive said: “This strategy reflects the extensive and thoughtful engagement with stakeholders that the Labour party has undertaken.
“With its focus on the long term, practical measures to boost investment in research, and the emphasis on quality data to underpin future strategy, this plan will help our industry to deliver the cutting-edge treatments NHS patients need and deserve and help the UK to better compete on the global stage.”
Curia’s Life Sciences Industrial Strategy for a New Government
Curia’s Health, Care and Life Sciences Research Group is hosting a pre-meeting supported by the NHS Innovation and Life Sciences Commission and led by commissioners including former Health Minister Ann Keen, former Deputy National Medical Director at NHS England, Professor Mike Bewick, and former Chief Executive of NICE, Professor Gillian Leng CBE.
This is a kick off meeting for the inquiry programme surrounding the creation of a Life Sciences Industrial Strategy, to support the work of a new UK government after the next General Election, where we will be joined by experts across the Life Sciences industry.
This is the first and only public session of our Life Sciences Industrial Strategy Programme, which runs through to March. In order to join our later inquiries, you must join as a member of the Health, Care and Life Sciences Research Group. Contact Curia CEO, Ben Howlett, at ben.howlett@curiauk.com for more information.
