New Labour government backs pharma reform in UK
As the UK transitions into a Labour government, the pharma industry urges for boosted investment and talent attraction. As Starmer takes over as UK Prime Minister, the pharmaceutical industry has asked for increased investment, and a focus on talent attraction within immigration laws.
“Change begins now,” said the UK’s new prime minister, Sir Keir Starmer, in his 5 July victory speech. Ending the 14-year Conservative party reign, the Labour Party has pledged to bolster the UK pharmaceutical sector through increased investment and regulatory action.
In his final speech as prime minister, Conservative The Labour Party has already promised extensive change to the UK’s life sciences sector, setting forth plans for faster regulatory timelines, more investment and National Health Service (NHS) reform among other things. The pharmaceutical sector has been outspoken about the need for change to cement the UK as a life sciences superpower, bolster the healthcare system, and attract talent to the industry.
“During its campaign, Labour was right to single out the UK’s life sciences sector as a critical partner for their plans to deliver positive change and economic growth. A strong industry-government partnership will be vital to ensure that we continue to discover breakthrough medical innovation in the UK and ensure NHS patients are among the first people in the world to benefit from the latest medicines and vaccines,” said Richard Torbett, chief executive of the Association of the British Pharmaceutical Industry in a statement responding to Starmer’s election win.
Life sciences investment
In Labour’s 13 June manifesto, the party committed to set spending plans for the next ten years, pledging money to research agencies such as UK Research and Innovation (UKRI), the nation’s main public science funder.
The party departed from the usual standard three-year timespan for budgeting plans of this nature to “allow meaningful partnerships with industry to keep the UK at the forefront of global innovation,” according to Labour’s manifesto.
July 10, 2024
