Government announces new investment in life sciences industry

The government has highlighted a new investment in the UK life sciences industry, alongside the launch of a review into how medicines and medical technology are developed in this country.

A funding package of 63 million pounds will see Merck Sharp and Dohme create a licensing hub in London, expand research at its Hertfordshire headquarters and fund clinical research in oncology and dementia, while BD will build a next-generation blood separation tube production line in Plymouth.

Meanwhile, an Innovative Medicines Review will be launched to consider how to speed up patient access to cost-effective and innovative medicines, devices and diagnostics.

The review will touch upon fresh approaches to the development of medical products, finding out how to encourage wider collaboration between companies and regulators, and how to involve charities and patient groups more closely.

Minister for life sciences George Freeman said: "NHS leadership in health research is attracting new investment into our life sciences research sector, generating the health and wealth we need to be a modern economy."