The Association of the British Pharmaceuticals Industry (ABPI) has responded to an announcement from the Treasury that the Government will invest £220 million into cutting edge new technology in the Life Sciences sector, and towards university research.
Responding to this weekend's announcement from Chancellor Philip Hammond, Mike Thompson, Chief Executive of the ABPI said:
"The announcement from the Chancellor to invest £220 million in to health technology research is excellent news and demonstrates the Government’s continued support for the UK life sciences industry. Action speaks louder than words; this is a clear signal from Government that the UK remains a great place for life-sciences and will be well received by all in the industry.
We hope that today’s investment is just a first step. We look forward to the publication of the Accelerated Access Review in the coming weeks which should drive further investment and innovation in our sector and subsequently improve access to better treatments for NHS patients."
ABPI Press Office
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About the ABPI
The ABPI represents innovative research-based biopharmaceutical companies, large, medium and small, leading an exciting new era of biosciences in the UK.
Our industry, a major contributor to the economy of the UK, brings life-saving and life-enhancing medicines to patients. We represent companies who supply more than 80 per cent of all branded medicines used by the NHS and who are researching and developing the majority of the current medicines pipeline, ensuring that the UK remains at the forefront of helping patients prevent and overcome disease.
Globally our industry is researching and developing more than 7,000 new medicines.
The ABPI is recognised by government as the industry body negotiating on behalf of the branded pharmaceutical industry for statutory consultation requirements including the pricing scheme for medicines in the UK.