UK life sciences industry wins record number of investments

Published: 4-Jul-2007
Research & Development

The UK life sciences industry attracted 133 projects from foreign investors in 2006/07, up 37% on 2005/06, a report from UK Trade & Industry has confirmed.


The UK life sciences industry attracted 133 projects from foreign investors in 2006/07, up 37% on 2005/06, a report from UK Trade & Industry has confirmed.

As a direct result of this investment, 3,818 jobs have been created or safeguarded.

Five of the world's top 20 medicines were developed in the UK, a record that is second only to the US and is better than the rest of Europe combined.

In 2006, GlaxoSmithKline injected a further £25m into its manufacturing plant in Montrose, Scotland, while AstraZeneca is spending £60m on expanding its oncology research centre in Cheshire.

The UK is the world's fifth-largest pharmaceuticals market and its National Health Service (NHS) is a leading customer. Sales to the NHS were £10.1bn in 2006 and exports were £13.8bn, beating the £12.2bn record set in 2004.

A significant rise in biotechnology related inward investment projects during 2006 further underlined the sector's position as the largest in Europe. Investment, particularly from biotechnology companies in France, Germany, Japan and the US, resulted in 79 new projects and created 1,190 new jobs, the report says.

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