The Association of the British Pharmaceutical Industry has published ‘Creating the Conditions for Investment and Growth,’ a new report outlining the key factors that drive international competitiveness for commercial clinical trial investment.
The report uses a competitiveness framework with 48 different points, ranking different countries' relative strengths and weaknesses.
The report notes that despite the UK’s strengths, inward investment in research here has declined as global competition has increased.
It also outlines the advantages to the UK economy and health of the public when we realise the ambition of the government to be the leading life sciences economy in Europe by 2030, and the third leading in the world by 2035.
Responding to the launch of the report, Matt Westmore, Chief Executive of the Health Research Authority, said:
Matt Westmore, Chief ExecutiveThis framework provides a helpful insight into the priorities for global pharmaceutical companies, and their analysis of what is needed for the UK to become the number one life sciences economy in Europe by 2030.
The framework rightly recognises the strengths of the UK and areas where improvements could be made.
We agree that starting and completing research faster means that it can improve care faster.
That is why we have been working as part of the cross-sector UK Clinical Research Delivery (UKCRD) programme to streamline and speed-up clinical trial delivery.
This is a valuable snapshot of how the UK was performing in 2023, and I am confident the next edition will reflect the progress that we have made.