The British Prime Minister delivered remarks on proposed policy changes that would make the UK more competitive in Life Sciences at the FT Global Pharmaceutical and Biotechnology Conference in London on Monday 5th December.
Financial Times Editor Lionel Barber introduced Mr Cameron to the stage at the Marriott Grosvenor Square where he addressed a room of over 100 executives from across the pharmaceutical industry.
The Prime Minister spoke about the UK’s Life Science strategy, outlining his commitment to driving the sector forward. According to No. 10, the pharmaceutical industry currently generates £50bn annual turnover and employs 160,000 people, but Mr Cameron believes there is more his government could do to further develop this field in the UK.
Innovation was the key word in the Prime Minister’s address. He will allocate funding for new research centres as well as £180m for an ‘ideas fund’. Mr Cameron also stated he would create new incentives for pharmaceutical businesses to carry out their work in the UK in the form of tax breaks. The Prime Minister promised to break through NHS red tape and fast track new drugs as well as opening up patient data to research groups. The result of these policies is intended to make the UK a world leader in the Life Sciences sector.