H/Advisors’ event hears now is a Watershed Moment for British life sciences investment26/06/2023
Significant challenges face Britain in competing internationally for life sciences investment, however, opportunities do exist.
London 26th June 2023: H/Advisors, a leading global strategic advisory group, held an event in London to look at Britain in the context of global life sciences investment. The event was held in partnership with Havas Health & You, the largest healthcare communications network in the world.
The event, which was held in Havas Village London, heard from a panel of speakers including the Rt. Hon. Lord Lansley, Former Secretary of State for Health, Susan Rienow, Pfizer Country President & ABPI President, and Professor Liam Smeeth, Director of the London School of Hygiene and Tropical Medicine. The event was chaired by Benedict Macon-Cooney, Chief Policy Strategist at the Tony Blair Institute.
Attendees heard opinions from the panel on the UK pharmaceutical rebate scheme, which is currently being negotiated, on how pro-innovation policy was needed, and on how the country should build new research partnerships globally in the wake of Brexit.
All panellists agreed that considering the context of the UK environment and its current position globally, now is a watershed moment for the life sciences sector.
Emma Turnbull, Health Account Director H/Advisors & Event Organiser said, “Our event really brought to the fore key challenges that are currently facing Britain in the context of attracting and retaining life sciences investment. What was evident from our panellists was the UK policy and regulatory environment does not stack up in terms of incentivisation for investment.
Concerns were raised over the pharmaceutical rebate scheme, declining clinical trials, and the current burdensome regulatory and reimbursement process which results in almost 25 percent of applications being withdrawn before completion.
Access was also highlighted as a challenge with panellists citing that UK patients are often waiting much longer for access to products than their EU neighbours.
However, our panellists did agree the UK has a lot to offer for companies as a place to invest such as renowned research facilities, a first-class health system, and a pro-business economy.”
H/Advisors launched its inaugural Global Life Sciences Market Monitor at the event which compares the policy and regulatory environment in 10 markets and analyses how they incentivise investment.
Aideen Ginnell, European Director