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Home Industry News GlaxoSmithKline chief calls for more investment in UK pharma

GlaxoSmithKline chief calls for more investment in UK pharma

31st July 2012

GlaxoSmithKline's chief executive officer (CEO) Sir Andrew Witty is calling for other major pharmaceutical firms to expand their presence in the UK in order to bolster the local life science industry.

Speaking to the Independent, the business leader stated that the country would greatly benefit from the proliferation of clusters in which multiple companies operate, as this encourages innovation, staff movement and collaboration.

He said the UK market was a lot richer in this regard in the past than it is at present, something which could become an issue given the growth of the pharmaceutical sectors in Switzerland, Germany, South Korea and India.

"Britain is still in the first division in our sector, but there are some rapidly up-and-coming competitors. Britain cannot rest on its laurels," said Sir Andrew.

The CEO also suggested that the UK's National Institute for Health and Clinical Excellence needs to be reformed in order to help drugs reach the market more quickly.

Sir Andrew received a knighthood in the 2012 New Year's Honours List in recognition of his services to the UK economy and pharmaceutical sector.ADNFCR-8000103-ID-801418699-ADNFCR

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